Gambas Crescent land parcel 2 attracts top bid of $46.3m

Commercial site draws in nine bids.

Grow-Tech Properties Pte Ltd submitted the top bid of $46.3m for Gambas Crescent land parcel 2, surpassing the second-place from Eco-I Pte Ltd bid by a significant $16m, according to a release by the Urban Redevelopment Authority (URA).

Notably, Grow-Tech Properties also placed the top bid for the related Gambas Crescent land parcel 1.

Grow-Tech's highest bid translates to a tendered sale price of $1,369.1 psm given a site area of 13,536.9 sqm.

A decision on the award of the tender will be made after the bids have been evaluated, and will be publicised by URA at a later date.

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