A hotly contested executive condominium (EC) site at Anchorvale Lane in Sengkang was awarded to Hoi Hup Realty and Sunway Developments on Monday (5 September), after the developers jointly submitted the top bid of $241 million, which translates to $355 psf per plot ratio, said the Housing and Development Board (HDB).
Launched for sale on 29 June under the confirmed list of the second half 2016 Government Land Sales (GLS) Programme, the 2.1ha site attracted 16 bids before the tender closed two weeks ago.
“The race to acquire land has become more intense given that this is the last EC site that will come on the market for the rest of the year,” said Desmond Sim, Head, CBRE Research, Singapore and South East Asia.
Located beside Punggol Reservoir, it is within proximity to the Tongkang LRT station and schools.
The 99-year leasehold site is expected to yield 635 units, said the HDB.