The private residential site at Dundee Road within Queenstown estate has drew nine offers from developers. With the highest bid of $483.2 million, Singapore HDB has awarded the private home site in Queenstown to Chinese firm HY Realty Pte Ltd.
Launched for sale on April 29, HY Realty has emerged as the top bidder with the best offer for the 10,516.1 sq m site. A winning margin of 8% higher than second- placed Allgreen Properties, shows the confidence of developer in the mature Queenstown estate.
HY Realty has plans to build 645 housing units on the 99-year leasehold site, it is located right next to Queenstown MRT station and Singapore property like Commonwealth Towers. The Dundee Road land parcel is due to be launched in the first quarter of 2016.