Sing Development and Wee Hur joint venture tops bids

A 99-year leasehold private housing site Parc Botannia along Fernvale Road in the Sengkang area has fetched 14 bids at a state tender that closed on Tuesday, Sept 27. Upcoming new launch condo include Parc Botannia condo while existing ones include Kingsford Waterbay, Seaside Residences and Grandeur Park Residences. Parc Botannia floor plans and Parc Botannia showflat will be available shortly.

The top bid, from a partnership between Sing Development and Wee Hur Development, was S$287.1 million, which works out to S$517.03 per square foot per plot ratio (psf ppr).This was just a tad above the next highest bid of nearly S$287.09 million (S$517.00 psf ppr) by China Construction (South Pacific) Development Co.

Provisional tender results released by the Urban Redevelopment Authority showed that bids were also received from Allgreen Properties, MCL Land, Qingjian Realty, Hong Leong Holdings (jointly with City Developments and TID Residential), Sim Lian Land, Singhaiyi Investments, Chip Eng Seng and Nanshan Group Singapore.

The lowest bid, from Kingsford Property Development, was S$223.23 million (slightly above S$402 psf ppr).