Only two bids were received in the tender for a residential site at Simei Road, which is being launched under HDB’s Design, Build and Sell Scheme.
Property developer Sim Lian Land put in the top bid of S$52 million. The price works out to S$1,472 per square metre of gross floor area.
AMK Development put in the lower bid of S$37.2 million or S$1,055 per square metre of gross floor area.
The parcel spans 16,825 square metres and is slated for public housing. It has a lease of 103 years and a maximum allowable gross floor area of 35,333 square metres.
HDB will announce the winning bid within the next two weeks. – CNA /ls
Source : Channel NewsAsia – 3 Jun 2008