Woodlands commercial site draws strong interest

A government tender for a commercial site in the Woodlands Regional Centre drew strong response, with a consortium that included Far East Organization submitting the highest bid of S$634 million, the Urban Redevelopment Authority (URA) said on Tuesday.

The bid by the consortium comprising Far East Organization, Tannery Holdings and Sekisui House for the Woodlands Square site works out to around S$906 per square foot per plot ratio, said Colliers International’s director of research and advisory Chia Siew Chuin.

“Being the first commercial site predominantly for office use in Woodlands, the site is expected to serve as the catalyst to kick-start the development of the Woodlands Regional Centre,” she said.

Colliers said the site — which is near the Causeway Point shopping mall — is well located as it is just a stone’s throw away from the Woodlands MRT station where the existing North-South line and the future Thomson line will meet.

URA said the site attracted eight bids — with the second highest at S$620.8 million and the lowest at S$308 million.

Source : Channel NewsAsia – 8 Apr 2014

Join The Discussion

Compare listings