This most highly contested residential site fetched a whopping $145.9m in 1Q

This land site attracted 16 bids.

According to Knight Frank, competition for land sites released under the GLS programme were intense, especially for sites with strong location attributes. The most highly contested site was the plum plot located near Aljunied MRT Station.

The tender for this site drew a total of 16 bids and SL (Serangoon), a unit of Sustained Land, came up top with a winning bid of $145.9 million or $775.96 per square foot per plot ratio (psf ppr).

Here's more:

Despite the recent change of rulings in the Executive Condominium (EC) market during 4Q 2013, developers continued to remain bullish about the demand for ECs. The 2 EC sites located at Westwood Avenue and Anchorvale Crescent managed to attract 12 bids each and the winning premiums for the two sites were a marginal 0.45 per cent and 0.99 per cent respectively.

The top bid of $198.9 million or $382 psf ppr for the site at Westwood Avenue came from a joint-venture between Koh Brothers and Heeton Homes. As for the EC site at Anchorvale Crescent, SingHaiyi Group was awarded the plot with a winning bid of $192.9 million or $367 psf ppr.

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