White Haven Properties, a unit of City Developments (CDL), has won the tender for a 99-year leasehold site at Buangkok Drive/Sengkang Central for S$301 million or about S$508 a sq ft. CDL earlier said it plans to build a residential development of about 16 storeys. An estimated 580 units can be built on the site, which spans about 18,340 sq m. Property consultancy CBRE earlier said the bid works out to a break-even cost of between S$900 and S$950 per sq ft. The new development is expected to be priced at an average of S$1,040 a sq ft.
Source : Today – 2012 Jun 16
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