HDB Land sales at Chenchuru Close and Sembawang Road attract strong bids

Top bid was $1.012b from Evia MCS, Gamuda, and H108.

The Housing & Development Board (HDB) has closed the tenders for two residential land parcels at Chenchuru Close and Sembawang Road on 11 September.

The Chenchuru Close site, slated for a mixed-use development featuring a bus interchange, hawker centre, and residential units, drew three bids.

The 29,450.3 sq m plot allows for a maximum gross floor area (GFA) of 96,008 sq m and could yield about 875 housing units. The project carries a 99-year lease and an 84-month completion period.

The top bid of $1.01b ($10,546.92 psf/GFA) came from a consortium comprising Evia MCS Pte. Ltd., Gamuda (Singapore) Pte. Ltd., and H108 Pte. Ltd.

Other bidders included Phoenix Property with $845m ($8,801.35 psf/GFA), and Sim Lian Land with $692.4m ($7,211.90 psf/GFA).

The Sembawang Road parcel, designated for an executive condominium (EC) development, attracted four bids.

Spanning 18,967.2 sq m with a maximum GFA of 26,555 sq m, the project could deliver about 265 EC units. The site has a 99-year lease with a 60-month project completion timeline.

The highest offer came from Oriental Pacific Development Pte. Ltd., which submitted a bid of $197.8m ($7,447.83 psf/GFA).

This was closely followed by TID Residential Pte. Ltd. at $190.1m ($7,158.31 psf/GFA).

Other bids included $168.2m ($6,332.83 psf/GFA) from a consortium of ABR Holdings, RP Ventures, Macly Capital, and LWH Holdings, as well as $109m ($4,104.69 psf/GFA) from Sim Lian Land.

HDB said that a decision on the tender awards will be made after further evaluation of the bids. Results are expected to be announced at a later date.