A 1.24 ha Executive Condominium (EC) site in Woodlands Avenue 12 was awarded to Hao Yuan Investment Pte Ltd on Tuesday, at the tender price of $103,790,000.
The Housing & Development Board launched the land parcel in December last year and received seven bids on the plot earlier in February.
The highest bid at $247 million was submitted by Hao Yuan Investment Pte Ltd, a China-linked company. This reflects a land price of $317.65 per sq ft per plot ratio and is 3.5% above the second bid,” said Colliers International.
The site allows for an estimated building of 390 homes and has a lease term of 99 years.
“This is the second Government Land Sales (GLS) tender that Hao Yuan Investment Pte Ltd has participated in, the first being the land site acquisition of The Nautical @ Jalan Sendudok in May 2011,” it added.