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Sengkang EC site draws top bid of $135m from CDL

Published on Nov 9, 2012 6:00 AM
An artist's impression of CityLife @ Tampines, which will likely be launched by year end. -- PHOTO: AMARA HOLDINGS, KAY LIM HOLDINGS AND SINGXPRESS LAND

An executive condominium (EC) site in Sengkang has attracted a top bid of $135 million in a six-way tussle as developers continue to show faith in EC popularity.

At least two more EC launches are expected by year-end.

City Developments' (CDL) Verspring Properties topped the table for the 14,100 sq m site at the junction of Sengkang West Way and Fernvale Link with a $296.50 per sq ft (psf) per plot ratio (ppr) bid.

It pipped JBE Development's $134.9 million bid - or $296.20 psf ppr - by just a whisker.

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