The latest state tender for an executive condominium (EC) site in Choa Chu Kang Drive shows that developers would still make a beeline for attractive sites.
Located about 550 metres from Choa Chu Kang MRT Station and Bus Interchange and Lot One Shoppers'...
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The latest state tender for an executive condominium (EC) site in Choa Chu Kang Drive shows that developers would still make a beeline for attractive sites.
Located about 550 metres from Choa Chu Kang MRT Station and Bus Interchange and Lot One Shoppers' Mall, the 1.9-hectare plot drew eight bids, with the highest at S$361.08 psf ppr from Sim Lian Land - slightly above market expectations.
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Some market watcher had expected the site to draw 5-6 bids with the winning bid at S$320-350 psf ppr. However, he added: "I see a mix of both caution and optimism. The optimism is in the top bid being higher than expected; the caution is the top bid being pretty close to the S$357 psf ppr average price for the two adjacent Choa Chu Kang Grove EC plots sold in February - despite the latest site being more attractive."
The pair of Choa Chu Kang Grove sites are about 1.1 km from Choa Chu Kang MRT Station.
At the latest tender in Choa Chu Kang Drive, Sim Lian's bid was just 2.
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