Strong bids for Jurong West site despite cooling measures
Published on Jan 29, 2013 5:20 PM
BIDS for a Jurong West residential site came in higher than expected despite the tough property curbs that were unveiled earlier this month.
MCL Land submitted the top bid of $438.9 million - or $651 per sq ft per plot ratio (psf ppr) - for the 99-year leasehold site. This was just 3 per cent more than Secure Development's $424.9 million bid - or $631 psf ppr.
Other bidders include a joint bid by Frasers Centrepoint, Far East Organization and Sekisui House.
Mezzo Development lodged the lowest bid of $243.8 million.
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