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.