Top bid of $463.1m for Prince Charles Cres site lower than expected
Published on Apr 16, 2014 5:35 PM
SINGAPORE - A tie-up between UOL Venture Investments and Kheng Leong have submitted the highest bid for a land site at Prince Charles Crescent just off the Tanglin area.
Their offer of $463.1 million, or $820.65 per sq ft (psf) of total floor area, came in below analysts' expectations.
Property consultants had predicted bids of about $900 to $1,000 psf based on other recent land sales in the area.
The top bid pipped six others, just edging past the second-highest offer of $440.2 million by a 5-per-cent margin.
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