Lukewarm interest for two government land parcels at Fernvale Road

SINGAPORE - Two residential sites offered under the government land sales programme at Fernvale Road saw low participation, as tenders closed on Thursday.

The 99-year-lease sites were launched for public tender on Jun 26.

Parcel A, a 178,723 sq ft site, saw four developers placing their bids. Coming in first was a joint bid of $234.9 million by CEL Development, a unit of Chip Eng Seng, and Unique Residence.

The 187,441 sq ft Parcel B received three bids, with the top offer coming from CEL and Unique Residence at $252.1 million.