Tender for Ten Mile Junction site attracts eight bids

The tender for a commercial-residential site at Ten Mile Junction in Choa Chu Kang has attracted eight bids.

The 1.56-hectare site is the first to be launched for tender this year under the Confirmed List of the government land sales programme.

The top bid of nearly S$164 million came from Dollar Land Singapore, a subsidiary of Lucky Realty Company.

This translates to a tendered sale price of some S$4,700 per square metre of gross floor area. And it is higher than market expectation of between S$135 million and S$150 million.

CEL Development, a subsidiary of Chip Eng Seng Corporation, put in the second highest bid at about S$148 million, followed by Sim Lian Land at about S$139 million.

The remaining bids for the site at the junction of Choa Chu Kang Road and Woodlands Road ranged from S$71 million to S$126 million.

The award of the tender will be announced at a later date pending evaluation of the bids.

In 2008, the government rejected the top bid of S$61 million for the same site as it was too low.

Source : Channel NewsAsia – 23 Feb 2010

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