News

Residential Property

Staff Reporter

, Singapore

Published:

9 years ago

GuocoLand bids $595.1m for hotly-contested Martin Place residential site

The site drew a total of 13 bids.

A GuocoLand unit submitted the second-highest bid for a prime residential site at the corner of Martin Place and River Valley Close.

First Bedok Land offered $595.1 million for the almost 1.6-hectare site, which translates to a price of $1,239 per square foot plot ratio (psf ppr).

The second-highest bid stood at $588 million, and was tendered by a consortium between Intrepid Investments, a unit of Hong Leong Holdings; Verwood Holdings, a unit of City Developments; TID Residential, and Garden Estates.

The tender for the site drew 13 bids. The site can yield a total of 450 units.

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