Lorong Puntong residential site draws 7 bids

Eco World submitted the highest bid at $208.1m.

The Urban Redevelopment Authority (URA) closed the tender for the Lorong Puntong/Sin Ming Avenue site on 15 September, receiving seven bids following its launch on 25 June.

The residential land parcel has a site area of 4,283.4 square metres (sq m) and a maximum permissible gross floor area (GFA) of 11,994 sq m, with a 99-year lease period.

Eco World Development (S) Pte. Ltd. submitted the highest bid at $208.1m, equivalent to $17,350.26 per sq m of GFA.

It was followed by Intrepid Investments Pte. Ltd. and TID Residential Pte. Ltd. with a $187.3m bid, or $15,618.64 per sq m of GFA, and SMCL Oasis Pte. Ltd. with a $185.4m bid, or $15,456.06 per sq m of GFA.

The other tenderers were EL Development Pte Ltd, JBE Capital Pte. Ltd., the SNC3 Realty Pte. Ltd., HS Invesco Pte. Ltd. and Kay Lim Realty Pte. Ltd. consortium, and Peak Valley Private Limited.

URA said the tender closing does not constitute an award, with the bids to be evaluated before a decision is made.

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Urban Redevelopment Authority

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