$51 Million Top Bid For Sembawang Condo Site

The Urban Redevelopment Authority (URA) announced that it received nine bids for the 75,851 sq ft site at Jalan Kandis in Sembawang, after the public tender closed on Thursday (7 April). It was launched for sale on 25 February.

A subsidiary of Tuan Sing Holdings submitted the top bid of $51.07 million, or $481 psf per plot ratio (psf ppr), which is slightly higher than Qingjian Realty’s offer of $50.18 million ($473 psf ppr).

Due to its relatively small size, the 99-year leasehold site could yield about 110 units.

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