SINGAPORE: A residential land site at Jurong West Street 41 attracted nine bids, at the close of tender on Tuesday (Mar 10).
MCL Land (Vantage) submitted the top bid of S$338.12 million for the 17,803.5-square-metre 99-year leasehold site. This translates to S$6,782.71 per square metre of the gross floor area (GFA).
CBRE Research Head Desmond Sim said the number of bids received is “testament to the confidence of the bidders in the face of a cut back in the number of residential sites in the Government Land Sales Programme”.
The Urban Redevelopment Authority said that a decision on the award of the tender will be made after the bids have been evaluated.