HDB receives 7 bids for Punggol Central mixed site

Joint tenderers Emerald Star and FC Retail Trustee have submitted the highest bid of S$1.021 billion for a mixed commercial and residential site at Punggol Central/Punggol Walk.

The Housing and Development Board (HDB) received a total of seven bids at the close of its tender on Tuesday.

The 29,999 square metre site is being offered for sale on a 99-year lease.

It has a maximum gross floor area of 125,997 square metres, which can accommodate an estimated 685 dwelling units.

The top bid of S$1.021 billion for the land parcel translates to about S$8,103 per square metre per gross floor area.

The next highest bid of S$849.8 million came from the Punggol Retail Development and Qingdao Construction joint venture, followed by a S$786 million joint bid by Keppel Land Realty and K-Commercial Management.

The lowest bid of S$250 million was submitted by Mezzo Development.

The land parcel was launched for public tender on November 30 last year.

HDB said it would evaluate the bids and announce the final tender results at a later date.

Source : Channel NewsAsia – 15 Feb 2011