Friday, January 20, 2012

Kovan site fetches top bid of $194.6m

Straits Times: Thu, Jan 19
THERE was keen competition with 11 bids submitted, but the prices offered for a residential site in Kovan were in line with market expectations.

The top bid of $194.6 million was submitted by a consortium made up of Hoi Hup Realty, which is owned by Straits Construction, and two other Straits Construction units.

Their offer - which works out to $507 per square foot per plot ratio (psf ppr) - was just $1.8 million higher than the next bid, submitted by a Frasers Centrepoint, Far East Organization and Sekisui House consortium..

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Team Marshe
Martin Koh/ Sherry Tang
9383-3992/ 9844-4400

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