Tender closing for residential site at Tampines Avenue 10

The site for residential development at Tampines Avenue 10 has attracted three bids at the close of tender by the Urban Redevelopment Authority (URA).

The highest bid of S$252.8 million or S$417.86 per sq ft per plot ratio came from a consortium formed by Far East Organization, Frasers Centrepoint Limited and Sekisui House Limited.

The break-even cost is estimated to be between S$750 and S$800 per sq ft.

The next highest bid came from EL Development, which bid S$242.1 million.

The 99-year lease site has an area of more than 20,000 square metres and a maximum gross floor area of over 56,000 square metres.

URA will evaluate the bids and the tender award will be announced at a later date.


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