Tender closing for residential site at Buangkok Drive / Sengkang Central

The Urban Redevelopment Authority (URA) closed the tender for the residential site at Buangkok Drive / Sengkang Central today.

The site at Buangkok Drive / Sengkang Central was launched for sale by public tender on 16 April 2012. The site was offered for sale on a 99-year lease.

The land spans about 18,340 square metres with a maximum gross floor area of 55,023 square metres.

White Haven Properties, a unit of Singapore-listed City Developments (CDL), placed the top bid of S$301 million for the 99-year leasehold site.

CDL said it plans to build a residential development of about 16 storeys if the company is successful with the tender.

CDL added that it is familiar with the vicinity. It is developing the 521-unit H2O Residences at Sengkang, of which 86 per cent of the 450 units released have been sold.

The other four bids lodged range between S$226 million and S$290 million.

A decision on the award of the tender will be made after the bids have been evaluated.

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