Wednesday, February 24, 2010

CNA: Tender for Ten Mile Junction site attracts eight bid

Tender for Ten Mile Junction site attracts eight bids
By Wong Siew Ying, Channel NewsAsia 23 February 2010 

SINGAPORE : The tender for a commercial-resident ial site at Ten Mile Junction in Choa Chu Kang has attracted eight bids. 

The 1.56-hectare site is the first to be launched for tender this year under the Confirmed List of the government land sales programme. 

The top bid of nearly S$164 million came from Dollar Land Singapore, a subsidiary of Lucky Realty Company. 

This translates to a tendered sale price of some S$4,700 per square metre of gross floor area. And it is higher than market expectation of between S$135 million and S$150 million. 

CEL Development, a subsidiary of Chip Eng Seng Corporation, put in the second highest bid at about S$148 million, followed by Sim Lian Land at about S$139 million. 

The remaining bids for the site at the junction of Choa Chu Kang Road and Woodlands Road ranged from S$71 million to S$126 million. 

The award of the tender will be announced at a later date pending evaluation of the bids. 

In 2008, the government rejected the top bid of S$61 million for the same site as it was too low. 

Team Marshe
Martin Koh/ Sherry Tang
93833992/ 98444400

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