Keppel Land unit wins bid for Kim Tian site

Keppel Land unit Harvestland Development has won the tender for a private residential site in Kim Tian Road with a top bid of S$550.3 million, Urban Redevelopment Authority data showed on Tuesday.

Harvestland’s bid translates to S$1,162.86 per sq ft per plot ratio, the highest ever for a pure residential site, beating the previous record of S$1,107 psf ppr for a site at Farrer Road, said Mr Lee Sze Teck, Senior Manager for Training, Research and Consultancy at DWG, before the tender was awarded.

The tender had attracted 11 bids at the close on April 18.

The centrally-located 99-year leasehold site was released under the Confirmed List of the Government Land Sales programme for the first half of this year. Near Tiong Bahru MRT Station, it sits on about 118,302 sq ft of land and has a maximum permissible gross floor area of about 473,213 sq ft.

Keppel Land said it would develop about 500 homes ranging from 500 sq ft to 1,350 sq ft in one- to four-bedroom configurations when awarded the site.

Source : Today – 24 Apr 2013

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