Property developer Hiap Hoe has put in the top bid of S$73.3 million for a hotel site at Balestier Road and Ah Hood Road. The price works out to S$172 per square foot per plot ratio for the 99-year leasehold site. Consultants CB Richard Ellis said the bid is relatively low compared to other hotel sites. The site has a maximum gross floor area of 425,942 square feet, which can potentially yield some 675...