tampinesThe bid for Tampines Avenue 10 (Parcel D) closed last 28 April (Tuesday). The 168,567 sq ft residential site at Tampines Avenue received 12 bids, Urban Redevelopment Authority (URA) reported.

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.