The Urban Redevelopment Authority has awarded the tender for the residential site at Upper Serangoon Road and Pheng Geck Avenue to Qingdao Construction.
The company submitted the highest bid of S$113.7 million, or about S$588 per square foot of gross floor area.
The tender was launched in April this year and closed two weeks ago.
A total of 15 bids was received for the site.
Other developers who submitted bids included Frasers Centrepoint and Sim Lian Land.
The 99-year lease site can yield a maximum gross floor area of some 17,400 square metres.
Source : Channel NewsAsia – 15 Jun 2010