Kaeden Ong

Sembawang EC site attracts four bids

Posted by Kaeden Ong on 29th July 2014 in Blog

The tender for an executive condominium site in Sembawang Avenue received four bids, with FCL Tampines Court and KH Capital collectively submitting the highest bid of $214 million.

Launched for tender on 29 May 2014, the 99-year leasehold site has an area of 22,189.7 sq m and a maximum gross floor area of 62,131.16 sq m. It is expected to house 620 units.

The site sits in between Canberra Park and an upcoming EC, Skypark Residences, which is expected to be completed in 2017.

Verwood Holdings and TID Residential jointly submitted the second highest bid of $211 million, while Sim Lian offered the lowest bid of $181 million.

HDB said the decision on the award of the tender will be made after the bids have been evaluated and will be announced at a later date.

Credits: Property Guru

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