Mixed site at New Upper Changi Road attracts top bid of S$789m

A Housing and Development Board (HDB) site at New Upper Changi Road/Bedok North Drive has attracted 9 bids at the close of its tender on Wednesday.

The highest bid for the mixed commercial and residential site came from a joint bid by two companies – Brilliance Residential and Brilliance Trustee – for S$788.8 million.

That translates to about S$9,051 per square metre per gross floor area.

The next highest bid came from another joint bid by Moon Holdings and UED Capital Venture which bid S$650.8 million.

The site has a land area of 24,902 square metres and a maximum gross floor area of 87,157 square metres.

The state land was launched for public tender on July 2 and has a lease period of 99 years.

HDB said it would decide on the winning bidder at a later date.

Source : Channel NewsAsia – 1 Sep 2010

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