A 99-YEAR leasehold private residential land parcel at Sengkang West Way drew a top bid of $262.1 million, or about $488.84 per sq ft per plot ratio (psf ppr).
The site was launched under the Government Land Sales programme by the Housing Board (HDB) on Feb 28. UOL Group unit Secure Development made the highest bid for the approximately 179,900 sq ft site, which has a maximum gross plot ratio of 3.0.
The tender for a plum 99-year private housing site along Fernvale Close in Sengkang West has drawn nine bids, with the top bid at 9 per cent above what the next-door plot had fetched in April.
The April tender drew eight bids.
Market watchers say that yesterday's provisional tender results reflect the superiority of the latest site, which boasts a long frontage along Sungei Punggol. Some also observed that developers continue to have a strong appetite for choice housing sites in the mass-market segment.
