Yanlord unit's consortium wins Lentor Central residential site tender for $481 million

The parties plan to build a residential development of about 470 units on the 144,714 sq ft site. PHOTO: URA

SINGAPORE - Real estate developer Yanlord Land Group on Monday said an indirect subsidiary, together with two other parties, has been awarded a residential site tender in Lentor Central at a bid price of $481 million, or $1,108 per sq ft per plot ratio (psf ppr).

UED Alpha, a wholly owned subsidiary of Yanlord's United Engineers, submitted the tender with Forsea Residence and Soilbuild Group Holdings.

The parties plan to build a residential development of about 470 units on the 144,714 sq ft site, located within the new Lentor Hills estate. The site has a maximum permissible gross floor area of about 434,140 sq ft.

The second-highest bid of nearly $1,069 psf ppr was from CapitaLand Development's Tanglin Land.

GuocoLand teamed up with Intrepid Investments to place the lowest bid of nearly $1,038 psf ppr.

Shares in Yanlord ended flat on Monday at $1.04. THE BUSINESS TIMES

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