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Friday, 30 November 2012

CapitaLand places $853 psf ppr top bid for Bishan condo site


Capitaland021
 
In February last year, CapitaLand paid S$869 psf ppr for the next-door site, which it is developing into the Sky Habitat condo - PHOTO: BLOOMBERG
     
CapitaLand unit Allamanda Residential Development has placed the top bid for a 99-year leasehold private housing site at Bishan Street 14. Its bid of S$505.1 million, or S$852.94 per square foot per plot ratio (psf ppr), was 3.1 per cent higher than the next highest bid of S$490.1 million (S$827.61 psf ppr) from a joint venture involving Singland Homes, UOL Venture Investments, and Orix Investment and Management.

The tender attracted nine bids. The lowest bid, from Mezzo Development, was S$368 million (S$621.42 psf ppr)

The site is near Bishan MRT station and Junction 8 shopping mall. It can be developed into an estimated 645 homes, according to Housing & Development Board, which conducted the tender as land sales agent for the Singapore government.

In February last year, CapitaLand paid S$869 psf ppr for the next-door site, which it is developing into the Sky Habitat condo.



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