After jointly submitting the top bid of $241 million or $355 psf per plot ratio, the hotly contested Anchorvale Lane executive condominium (EC) site was awarded to Sunway Developments and Hoi Hup Realty last 5 September, the Housing and Development Board (HDB) reported.
Land parcel at Anchorvale Lane was launched for sale last 29 June under the confirmed list in Government Land Sales (GLS) Programme for the second half 2016, and attracts 16 bids during the tender closed 2 weeks ago.
According to Head, CBRE Research, Singapore and South East Asia, Mr Desmond Sim, since Anchorvale Lane site is the last executive condominium (EC) site that come on the market for the rest of 2016, the race acquiring the land has become more intense.
The Anchorvale Lane land parcel is located beside Punggol Reservoir and close to another EC project, Treasure Crest EC. The Tongkang LRT station is also within proximity to the site.
The 99-year leasehold Anchorvale Lane site is expected to yield about 635 EC units, according to HDB.