Tag Archives: Chestnut Avenue

Bids pour in for Bukit Panjang condo site

Posted on 20 Aug 2009 | Comments Off on Bids pour in for Bukit Panjang condo site

THE fast-improving property market has prompted 13 developers to submit bids to buy a 99-year leasehold suburban land parcel in Bukit Panjang.

The top bid for the Chestnut Avenue condominium plot came in higher than expected at $143.68 million or $280 per sq ft (psf) of gross floor area. This was 132 per cent above the minimum acceptable bid of $120 psf of gross floor area.

The bid came from a joint venture between City Developments’ Sunny Vista Developments and Hong Leong Group’s Hong Realty. The 22,700 sq m of land can accommodate about 450 flats.

Some of the other top bids are: Sim Lian Land with a bid of $113 million and First Changi Development, a GuocoLand subsidiary, with a bid of $93.38 million. Continue reading →

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Posted in Developers, En-bloc / Collective Sales

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Condo land plot draws 13 bids

Posted on 19 Aug 2009 | Comments Off on Condo land plot draws 13 bids

A TENDER for a 99-year leasehold condo plot in Chestnut Avenue drew an impressive 13 bids from developers keen to cash in on strong market for mass market homes.

The top bid came in at $143.68 million or $280 per sq ft of gross floor area, which was about 132 per cent above the minimum allowable bid of $120 psf of gross floor area.

The bidder was a joint venture between City Developments’ Sunny Vista Developments and Hong Leong Group’s Hong Realty.

The top five bidders include Sim Lian Land with a bid of $113 million and First Changi Development, a GuocoLand subsidiary, with a bid of $93.38 million.

Frasers Centrepoint put in the most conservative bid of $77 million or $151 psf of gross floor area.

Source : Straits Times – 19 August 2009

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Posted in Developers, Property Market / Real Estate

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