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Hotly contested Potong Pasir mixed-use site drew 15 bids

Published on Aug 19, 2014 6:49 PM

SINGAPORE - A mixed-use site at Potong Pasir drew a whopping 15 bids when its tender closed on Tuesday - far more than expected.

It was also a close fight at the top, with a difference of just 3.2 per cent between the top bid and the third-highest.

Still, the highest offer for the 1.6ha parcel at Meyappa Chettiar Road was in the middle of the range analysts predicted, signalling that developers still bid fairly cautiously.

MCC Land put in the top offer at $471.6 million, which works out to $775 per sq ft (psf) per plot ratio (ppr).

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