Land parcel in Sembawang receives top bid of S$211.9m

The tender for a land parcel located at Sembawang Crescent/Sembawang Drive closed on Thursday with a top bid of $211.92 million.

The site, measuring 21,718.4 square metres, received a total of eight bids.

In a statement, the Housing and Development Board (HDB) said the top bid came from boutique developer JBE Holdings, while the second highest bid of S$210.1 million was handed in by FCL Place Pte. Ltd. and Hytech Builders.

Meanwhile, two joint bidders submitted the third highest tender price of S$208.5 million. They were Master Contract Services Pte Ltd & Keong Hong Construction and Peak Square Pte. Ltd. & Low Keng Huat (Singapore) Limited.

The lowest bid of S$184 million came from Mezzo Development.

The site can be developed into an executive condominium housing with around 650 units. It has a maximum gross floor area of 60,811.52 square metres and gross plot ratio of 2.8. The lease term is 99 years.

HDB said the decision on the tender award will be announced at a later date after the bids have been evaluated.

Source : Channel NewsAsia – 13 Dec 2012

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