OUE successfully tenders for Nassim land parcels for about S$56.6 million

SINGAPORE - OUE through its unit, has successfully tendered for two land parcels at 28 Nassim Road, it said on Thursday, for a bid price of about S$56.6 million.

The acquisition is expected to be completed by late October.

The parcels along Nassim Road are within Singapore's most exclusive Good Class Bungalow enclave.

They are also in the approved White House Park-Nassim Road conservation area.

They are adjacent to Eden Hall, the residence of the British High Commissioner, and they make up an area of around 3,100 square metres.

The bid price was set after taking into account factors such as exclusive location and the prevailing market value of properties in the Nassim vicinity, said OUE.

rachaelb@sph.com.sg