Tag Archives: Yio Chu Kang

Far East Organisation has placed the top bid of $119.08 million or about $376 per square foot per plot ratio for a residential and commercial site at the corner of Yio Chu Kang and Seletar roads.

The tender attracted a total of 12 bidders, including Centurion RE, Frasers Centrepoint, Soilbuild Group, Sim Lian, GuocoLand and Teambuild.

NEWS RELEASE BY URBAN REDEVELOPMENT AUTHORITY
TENDER CLOSING FOR COMMERCIAL & RESIDENTIAL SITE AT YIO CHU KANG ROAD / SELETAR ROAD
1    The Urban Redevelopment Authority (URA) closed the tender for the commercial and residential site at Yio Chu Kang Road / Seletar Road today.
2    The site at Yio Chu Kang Road / Seletar Road was launched for public tender on 20 August 2009. It was originally on the Reserve List of the Government Land Sales Programme. URA had, on 7 August 2009, accepted a successful application for the site to be put up for sale. The site was offered for sale on a 99-year lease.
3    Please see Annex A for the particulars of the site and the details of the bids received.
4    This is not an announcement of tender award. A decision on the award of the tender will be made after the bids submitted have been evaluated. This will be publicised at a later date.

Source : Business Times – 17 Sep 2009

Far East Organisation has submitted the highest bid of S$119 million for a commercial and residential site at the junction of Yio Chu Kang Road and Seletar Road.

This is nearly 3 times the minimum bid price of S$40.5 million.

Far East’s bid translates to about $364 per square foot.

Centurion RE submitted the second highest bid at S$88.19 million, followed by Frasers Centrepoint’s offer of S$80.13 million.

The 99-year leasehold land parcel has a site area of 2.1 hectares and is designated for a mixed commercial and residential development.

The plot was made available for sale through the government’s Reserve List System.

The Urban Redevelopment Authority has closed the tender for the site after receiving 12 bids in total.

URA says it will announce the result of the tender after the bids have been evaluated.

Source : Channel NewsAsia – 17 Sep 2009