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Old 7th May 2010, 03:20 AM   #1 (permalink)
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Fragrance Properties' S$16.2m bid highest for Tampines site

Fragrance Properties' S$16.2m bid highest for Tampines site

By Janice Teo | Posted: 06 May 2010 2215 hrs


SINGAPORE : The tender by the Housing and Development Board (HDB) for the land site at Tampines Road has attracted a total of 16 bids from property developers.

This was higher than the 14 bids that was attracted from developers for the land site at Boon Lay Way and Lakeside Drive when the tender closed last Tuesday.

Fragrance Properties submitted the highest bid of S$16.2 million for the 99-year lease land parcel.

Fragrance's bid translates to about S$4,000 per square metre, per gross floor area.

The next highest bid came from Whye Wah Group at S$15.5 million.

The site was offered for sale in April under the Reserve List for the first half 2010 government land sales programme.

The minimum price for the site was S$6.5 million.

The site, which is proposed for landed or apartment housing, has a maximum gross floor area of over 3,000 square metres.

HDB will announce the final tender results within the next two weeks.

- CNA

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