Dundee Road private residential site draws nine bids

SINGAPORE - A private residential site in the mature estate of Queenstown has attracted nine bidders.

The top bid came from Chinese firm HY Realty at S$483.2 million.

The Dundee Road plot was launched on April 29, with the tender closing on Tuesday.

Allgreen Properties tendered S$445.9 million, coming in second.

The 1.05ha Dundee Road site, set to yield about 645 homes, was offered for sale on a 99-year lease term.

A decision on the award of the tender will be made after the bids have been evaluated.

This will be announced at a later date, said the Housing & Development Board on Tuesday.

rachaelb@sph.com.sg