Two tenders for adjacent executive condiminiums (EC) plots closed at the same time on 22 May 2014, a move set by the government to prevent soaring land bids and prices by developers.
The two parcels were located at Yishun Street 51 and attracted healthy interest for both plots.
Parcel A has a gross floor area of 540,698 sq ft and can build an estimated 490 units. The winning bid was submitted by a consortium led by City Developments (CDL) who put in a bid of $178.5m which translate to $330 per sq ft per plot ratio (PPR).
Parcel B has a gross floor area of 550,349 sq ft and can yield an estimated 520 units. The winning bid was submitted by boutique developer JBE Holdings who submitted the highest bid of $184.1m, $335 per sq ft per plot ratio.