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Urban Redevelopment Authority (URA) has award the residential site at Parcel B, Prince Charles Crescent to Kheng Leong and UOL Venture investments for $463,100,000 or $8,833.40 psm. They came in top bid out of 7 bidders. The next bidder is Verwood Holdings who bidded $440,200,000 follow by 3rd bidder Winzest Investment at $438,488,888.
This land parcel has a site area of 24,964.3 meter square and tenure is 99 years leasehold.
Attractions of Prince Charles Crescent (Parcel B) Site
- Well connected via major expressways and public transport
- Near to Redhill MRT Stations
- Minutes drive to Orchard Shopping Belt and Harbourfront
- Numerous good schools around the vicinity such as Gan Eng Seng, Crescent Girls School
- Nearby Park connector well connected to various parts of Singapore
Prince Charles Crescent site Parcel A versus Parcel B
Prince Charles Crescent site Parcel A was tendered by Wingstar Investment, Subsidiary of Wingtai holdings, for $516,298,888 or $10,336.31 psm in 2012 after they came in top bid out of 15 bidders. Parcel B however was tendered for $461,000,000 or $8,833.40 in 2014, more than 10% drop from Parcel A Tender.
With the lower cost in land tender, this should translate to lower cost for future residents at Principal Garden.