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Thread: URA receives 5 bids for Choa Chu Kang site

  1. #1
    Junior

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    Default URA receives 5 bids for Choa Chu Kang site

    URA receives 5 bids for Choa Chu Kang site
    Posted: 30 June 2011 2222 hrs



    SINGAPORE : The Urban Redevelopment Authority (URA) has closed the tender for the residential site at Choa Chu Kang Road/Phoenix Road after receiving five bids in total.

    Joint bidders Far East Civil Engineering and China Construction Development submitted the highest bid of S$142.78 million, which translates to about S$411 per square foot per plot ratio.

    The next highest bid came from EL Development at S$122 million.

    The site was launched for public tender on May 5 on a 99-year lease.

    The land parcel has an area of over 15,000 square metres and a maximum permissible gross floor area of 32,000 square metres.

    CB Richard Ellis' executive director for residential, Joseph Tan, said the site could be developed into a new 24-storey condominium of around 335 units.

    Located on the fringe of Choa Chu Kang and Bukit Panjang HDB estates, residents of the up-coming development would benefit from the amenities and facilities there.

    Mr Tan said the top bid would translate to a breakeven cost ranging from S$800 to S$850 per square foot.

    URA said it would decide on the winning bidder at a later date.

    - CNA/al
    BE CENTRED BY ALL AT THE FRINGE OF THE CITY @

  2. #2
    Junior

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  3. #3
    Exalted

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    Quite near to tennery....

  4. #4
    Go for Smallest Unit

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    Very near to LRT stn... Expect road congestion problem. Some facing are quite good, park or green mountain view with no west sun. Far east set the baseline pricing here. This will be priced above EC pricing for the EC beside mee laksa. Maybe this one call, mee Siam.. Residences.

    Haha... Better name will be Phoenix heights!

  5. #5
    Newbie

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    Not very walkable to the 3 surrounding MRTs.. FEO bidded much higher than 2nd place.. FEO style i think sure launch at 1.2k psf..

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