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PR Newswire
02-06-2017, 08:35 PM
The tender for a rare landed property site at Lorong 1 Realty Park in Hougang closed on Thursday (1 June) after attracting 11 bids, revealed the Urban Redevelopment Authority (URA).
China-based developer Fantasia Investment (Singapore), together with Sun Renwang and Yang Xinping, submitted the top bid of $75.8 million for the approximately 144,221 sq ft site. This works out to a land price of about $526 psf.
The second-highest bid of $62 million ($ 430 psf) came from Singhaiyi Investments and Haiyi Wealth, followed by EL Development with $60.1 million ($ 417 psf).
The 99-year leasehold plot was launched for sale on 20 April via the confirmed list of the first half 2017 Government Land Sales programme. It is expected to yield an estimated 50 landed homes.
Several shopping malls including Heartland Mall and Hougang Mall are located within the area, while the nearest MRT station is the Hougang station on the North-East Line.
China-based developer Fantasia Investment (Singapore), together with Sun Renwang and Yang Xinping, submitted the top bid of $75.8 million for the approximately 144,221 sq ft site. This works out to a land price of about $526 psf.
The second-highest bid of $62 million ($ 430 psf) came from Singhaiyi Investments and Haiyi Wealth, followed by EL Development with $60.1 million ($ 417 psf).
The 99-year leasehold plot was launched for sale on 20 April via the confirmed list of the first half 2017 Government Land Sales programme. It is expected to yield an estimated 50 landed homes.
Several shopping malls including Heartland Mall and Hougang Mall are located within the area, while the nearest MRT station is the Hougang station on the North-East Line.