The tenders for a land parcel at Tanah Merah Kechil Link and Yishun Avenue 9 Executive Condominium Site under Government Land Sales Programme had closed yesterday, 29 Oct 2020. Both the 99-year leasehold new launch condo had attracted several developers.
The site at Tanah Merah Kechil Link is a land parcel that is next to Tanah Merah MRT Station. It is zoned as residential with commercial units at the ground storey. A total of 15 bids was submitted by 29 Oct 2020.
MCC Land (Singapore) submitted the highest bid of S$248.99 million. This is around S$930 per square foot per plot ratio (psf ppr)
Tucana Residential and Tucana Commercial which is a consortium between City Development and TID, submitted a bid of S$238 million, which translates to S$889 psf ppr came as the second highest bid.
The second land parcel, which is at Yishun Avenue 9, is an EC site that garner seven bids from the developers.
Sing Holdings manage to secure the top bid with S$373.5 million, which is about S$576 psf ppr, and Maximus Residential SG, a joint venture between City Developments and MCL Land came in second with a bid of S$342.89 million, which works out to about S$529 psf ppr. The lowest bid was S$268 million at S$413 psf ppr from a joint venture between CEL Development, Singhayi Investments, and Ultra Infinity.
Source : https://www.straitstimes.com/business/property/tenders-for-tanah-merah-kechil-link-and-yishun-ec-sites-closed-with-bids-above