[SINGAPORE] A tie-up between SingHaiyi Group and Haiyi Holdings has placed the top bid of S$658.9 million or about S$1,388 per square foot per plot ratio (psf ppr) for a 99-year leasehold private housing plot next to Bayshore MRT station.
The Urban Redevelopment Authority (URA) tender for the land parcel, which closed on Tuesday (Mar 18), fetched eight bids in total. The plot can generate about 515 private homes.
The second-highest bid, from Sing Holdings, was S$1,377 psf ppr. This was followed by a bid from City Developments, which offered S$1,308 psf ppr.
The lowest bid, S$1,022 psf ppr, was from a tie-up between Sim Lian Land and Sim Lian Development.
Also bidding at the tender was a consortium comprising Frasers Property, Sekisui House and KH Capital, which offered S$1,285 psf ppr for the site.
Kingsford Group also participated in the tender, as did a partnership between Hoi Hup Realty and Sunway Developments. Also bidding was a consortium comprising Intrepid Investments, TID Residential and CSC Land Group (Singapore).
This is the maiden government land sale (GLS) site to be offered in the Bayshore precinct, a new waterfront residential neighbourhood that will have about 10,000 new homes, comprising 3,000 private homes and 7,000 Housing and Development Board (HDB) flats.
The Bayshore area was primarily sand and mudflats, and subsequently reclaimed.
The plot tendered by URA is at the western end of Bayshore precinct. In October 2024, HDB launched the first two Build-To-Order projects in the precinct: Bayshore Vista and Bayshore Palms.
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