Qingjian Realty wins bid for Sembawang EC site

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

Join The Discussion

Compare listings