Sengkang EC site awarded

PropertyGuru

19 February 2014 at 5:25 pm

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.

Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg