SINGAPORE: An executive condominium (EC) site in Woodlands has attracted seven bids from developers, according to the Housing & Development Board (HDB).
The 99-year leasehold site at Woodlands Avenue 5/Woodlands Avenue 6 fetched a top bid of S$216 million from Qingjian Realty (South Pacific) Group.
That's about 9 percent above the second highest bid of S$198 million tabled by Bellevue Properties, a wholly-owned subsidiary of City Development's Verwood Holdings.
Analysts say the top bid of S$216 million works out to about S$341 per square foot per plot ratio (psf ppr).
And that is higher than previous bids for nearby sites at S$318 psf ppr and S$302 psf ppr last year.
ERA Realty Network expects selling price for units built on the site to start at $830 psf.