Mount Sophia residential site draws nine offers, top bid of $442.3m
The tender for a rare residential site at Mount Sophia saw a fiercely-fought bidding war between nine developers, with a top bid of $442.3 million at its close on Tuesday.
The top bid came from a consortium comprising Hoi Hup Realty, Sunway Developments and S C Wong Holdings, translating into a price of $1,157 per sq ft (psf) per plot ratio (ppr).
This was just 0.1 per cent higher than the next highest bid of $1,156 psf ppr, submitted by a tie-up between Hong Kong-listed group Fantasia Holdings and investment holding company Singhome Re.
A joint bid submitted by Far East Civil Engineering, Tannery Holdings and Sekisui House came in third at $1,127 psf ppr, 2.9 per cent lower than the winning bid.