Property News 11 Jan – 17 Jan 2016

15 JAN 2016 – Siglap site draws 8 bids

The tender for a 99-year leasehold residential site at Siglap Road closed on Thursday after attracting eight bids, according to the Urban Redevelopment Authority (URA).

Launched for sale on 26 November 2015 under the confirmed list of the second half 2015 Government Land Sales (GLS) Programme, the 1.93ha site could yield about 750 condo units

A consortium comprising Frasers Centrepoint unit FCL Topaz, Sekisui House and Keong Hong Holdings unit KH Capital submitted the top bid of $624.18 million for the site, which translates to about $858 per square foot per plot ratio.

The site is located close to the future Siglap MRT station and the East Coast Parkway (ECP). Parkway Parade, 112 Katong and a number of reputable schools such as Tao Nan School and Victoria Junior College are also nearby.

A decision on the award of the tender will be made after the bids have been evaluated, said the URA




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