The Housing and Development Board (HDB) on Thursday (Oct 2) awarded the land parcel at Sembawang Road and Canberra Link to Qingjian Realty (Residential).
The developer’s bid of S$229.38 million was chosen by the HDB, over the combined bid of S$208.5 million by Verwood Holdings and TID Residential.
The land site is for executive condominium (EC) housing development, and has a lease term of 99 years. It is expected to yield 605 housing units, according to HDB.
Analysts had earlier noted this is the lowest number of bidders for a land site since 2001. The 28,745.9 square metre site is the 10th EC site sold this year and the third in Sembawang in 2014.
Source : Channel NewsAsia – 2 Oct 2014