The Tampines site with gross floor area of 471,997 sq ft received the highest bid of $227.78 million submitted by Chinese developer MCC Land.
The land parcel at Tampines Avenue was launched for sale on 17 March 2015 and offered on a 99-year leasehold. Other Singapore property at Tampines include Trilive @ Kovan and The Santorini @ Tampines.
“The $483 psf bid submit by MCC Land was top of a range of competitive tenders for the Tampines site. Property bidders were likely spurred on by the very attractive and affordable total quantum. The winning bid makes a 7 % premium against the second bid and it reflects the competitiveness of the bids. The winning bidder’s attempt also reflects to strengthen their presence,” Singapore & South East Asia, CBRE research head, Desmond Sim said.
The award will be made after the tender have been evaluated.