The housing board has awarded an executive condominium (EC) site in Anchorvale Crescent to Phoenix Real Estate, a wholly-owned subsidiary of SingHaiyi Group.
The tender for the Sengkang site closed last Thursday after attracting 12 bids.
SingHaiyi submitted the highest bid of $193 million for the land parcel, which translates to about $3,949 psm on the gross floor area (GFA).
The site was hotly contested with only a one percent difference between SingHaiyi's tender price and the next highest bid from MCL Land (Brighton).
The 16,280 sqm site has a maximum GFA of 48,840 sqm and a plot ratio of 3.0.
Offered on a 99-year lease, the site could yield around 545 homes.