Punggol EC site receives strong bids

As EC land prices are on the uptrend, a Punggol EC site receives strong bids from 7 developers at the close of the tender.

This EC site received a top bid of $162.1 million or $351 psf ppr from Sing Holdings which is even higher than other EC sites that were more centrally located in Punggol.

As EC sales achieved record volume, developers have augmented their interest for this sector and are willing to tender higher price for the site. 

The top bid is about 9% higher than the second higest bid. Other bidders include a unit under Frasers Centrepoint, Qingjian Realty, a unit under City Developments, CEL property among others.

This site in Punggol Field Walk has a land area of about 154,000 sq ft site with a maximum GFA of about 462,000 sq ft and a development potential of 435 housing units.

This site is about 2.5km away from Punggol MRT station and achieve a higher bid price than two other sites that are closer to the  Punggol town.

14 Dec 2012