SINGAPORE: An executive condominium site along Anchorvale Crescent received seven bids when tender closed on Friday (Sep 14), with just S$899 separating the highest bids.
The top bid was S$318,888,899, which came jointly from Evia Real Estate and Gamuda (Singapore), with the second highest - S$318,888,000 - coming from CNQC Realty (Treasure) Investment.
AdvertisementThe 17,137-sq-m land parcel can yield a maximum of 550 units, the Housing and Development Board (HDB) said in a news release.
Mr Ku Swee Yong, CEO of International Property Advisory, said: "Obviously the sandwich class has been lapping up ECs to profit from the grant as well as the arbitrage in price they get when the EC is privatised after 10 years.
"But 14 years from today, with the ageing population and downgraders, will prices remain high?"
The site was initially on the Reserve List of the Government Land Sales Programme, but its launch was triggered on Jul 25 after a developer committed to bid at least S$255 million.
AdvertisementAdvertisementHDB put the land parcel up for sale by public tender on Aug 10.
A decision on the award of the tender will be made after the bids have been evaluated.
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