The 99-year leasehold site is located close to the future Tampines West MRT station. Image source: URA
Bellevue Properties, a unit of City Developments Limited (CDL), beat eight other bidders to win the tender for a residential site at Tampines Avenue 10 (Parcel C), the Urban Redevelopment Authority said yesterday.
The company submitted the top bid of $370.1 million for the 99-year leasehold site, which works out to about $565 psf per plot ratio.
The 2.17ha plot was launched for sale on 14 March 2017. It sits between two upcoming condominium projects, The Santorini and The Alps Residences. It is also close to the future Tampines West MRT station along the Downtown Line.
A CDL spokesperson had earlier said that it would look to build a 15-storey condominium of about 800 units.
“All units are expected to enjoy a North-South orientation and the development will also include a childcare centre on site,” noted the spokesperson.