Friday, Mar 6, 2015Friday, Mar 6, 2015

Far East consortium tops bids for prime Woodlands commercial site

Published on Apr 8, 2014 5:49 PM

A Far East-led consortium lodged a $634 million bid for a prime Woodlands commercial site on Tuesday, edging out seven other bidders.

That price for the 199,873 sq ft plot works out to $906 per sq ft (psf) per plot ratio (ppr), which was on the lower end of market expectations.

The site has a maximum gross floor area of 699,556 sq ft, including subterranean space and a pedestrian link-bridge.

The second highest bid came from CapitaLand, which bid $887 psf ppr.

If you are not a subscriber, you can get instant, unlimited access here