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.