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Sim Lian offers top bid of $701 million for govt commercial site in Jurong East

Published on Mar 12, 2013 9:19 PM

A TENDER for a commercial site at Venture Avenue drew a top bid of $701.1 million in a nine-way battle when it closed today.

The top bid from Sim Lian JV (Vision) was 9 per cent higher than the second highest bid of $643 million from Victory One - a unit of CapitaLand.

Other bidders include a unit of Straits Steamship Land, Harvestland Development, which placed a bid of $634.1 million.

Industry experts said that the keen responses for developers could be a sign of spill-over demand from investors in the residential market.

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