EL Development came in top bid of $278,800,000 for a new residential site located at Yishun Avenue 9. This site could potential yield 600+ residential unit. Analyst predict a break even price of $925 to 940 psf and expected the selling price to be at least $1,000psf. The new development Symphony Suites is likely to launch closer to end of 2014.
The second highest bidder is from Sekisui House, FCL Topaz and Tannery Holdings that form a consortium with a top bid of $273.1m
Attachment 9076
Another new development currently selling by CEL, Nine Residences, had sold about 70% of its residential units. This is a new mixed development @ yishun too that consists of commercial retail shops and residential units with communal units.
With the upcoming Northpoint City that set to transform Yishun, will this be a good buy?