A residential site at Pasir Ris Drive 3 and 4 for condominium housing has been awarded to joint bidders FCL Topaz and FE Lakeside.
This was announced by the Housing Development Board, in a release of its final tender results.
The joint bid by the two companies is the highest out of four bids – at S$151.4 million.
That translates to about S$335 per square foot per plot ratio.
Observers believe units in this new residential project could possibly sell for about S$800 per square foot.
The land parcel has a site area of some 20,000 square metres and a maximum gross floor area of some 42,000 square metres.
The site was launched for public tender on August 5 and has a lease period of 99 years.
Source : Channel NewsAsia – 7 Oct 2010