Sembawang-Jalan Sendudok site sees S$191.8m bid

Hao Yuan Investment has submitted the highest bid of S$191.8 million for a residential site along Sembawang Road and Jalan Sendudok.

The Urban Redevelopment Authority (URA) closed the tender for the site, after receiving six bids in total.

The 27,600 square metre site, with a 99-year lease, was launched for tender on March 29.

CBRE Research said the site seems fairly popular based on the number of bids and quantum it attracted.

The top bid translates to about S$4,950 per square metre.

CBRE Research added that the top bid is somewhat higher than market expectations.

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

Source : Channel NewsAsia – 26 May 2011

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