Jurong executive condo site attracts record $272.8m bid

An executive condominium (EC) site at Yuan Ching Road in Jurong notched up a record top bid of $272.8 million on Tuesday, July 30, 2013. -- PHOTO: HDB
An executive condominium (EC) site at Yuan Ching Road in Jurong notched up a record top bid of $272.8 million on Tuesday, July 30, 2013. -- PHOTO: HDB

An executive condominium (EC) site at Yuan Ching Road in Jurong notched up a record top bid of $272.8 million on Tuesday.

That offer, from a consortium of Evia Real Estate, BBR Development, CNH Investment and OKP Land, translates to $418 per sq ft (psf) per plot ratio (ppr) for the 20,213 sq m site, believed to be a record psf ppr figure for an EC site.

Two other EC site tenders also closed on Tuesday.

One of them, at Punggol Drive, had a top bid of $312.8 million or $355 psf ppr, lodged by Peak Square.

The other, which is at Punggol Central, had a top bid of $156 million or $356 psf ppr submitted by a consortium of Master Contract Services and Keong Hong Construction.

The Housing Board (HDB) said in April that closing land tenders on the same day "could help moderate tender bids and, in turn, future property prices".