Jalan Jurong Kechil site draws 23 bids

A residential land parcel at Jalan Jurong Kechil has draw in astounding upshot from the respected developers, with a total of 23 bids acquired when the URA (Urban Redevelopment Authority) ended its public tender recently.

Set up for sale, the 10,170.8 sq m site was presented with a lease alternative of 30, 45 or 60 years. It has a utmost allowable GFA (gross floor area) of 14,239 sq m.

Out of the 23 offers, the topmost bid of S$73.8 million that is equivalent to S$ 5, 182.95 per sq m on the GFA (gross floor area) that was proposed by the reputable developer, the World Class Developments (North) Pte Ltd. This was succeeded by the CEL Property at around S$66.89 million followed by the Roxy Homes Pte Ltd. at about S$59.46 million.

Nearly all of the developers proposed offers for a 60 years leasehold, excluding for Kwan House which enlisted for a 45 years leasehold and as well proposed the least bid of S$23.29 million.

Developer can develop the land site for retirement housing or condominium. The Urban Redevelopment Authority (URA) will broadcast the successful developer after all the offers have been appraised. This will surely be a spectacular masterpiece. Verdale will be a one of a kind condominium that outfits the lifestyle and taste of each resident.