The tender for two prime sites at Zion Road and Upper Thomson Road closed with just one bid each, fetching $1.11 billion and $779.56 million, respectively. The sites have the potential to accommodate private homes, serviced apartments, and commercial space.
SINGAPORE: Limited interest was evident as the tender for two prime sites at Zion Road and Upper Thomson Road closed with just one bid each, fetching $1.11 billion and $779.56 million, respectively.
On the other hand, GuocoLand and Intrepid Investments emerged as the only bidder for the Upper Thomson Road site, with a bid of $779.56 million. This site has the potential to yield 640 homes, including 100 long-stay serviced apartment units. However, developers bidding for the two Upper Thomson Road sites exhibited caution, which was attributed to the considerable supply of new homes in the Lentor Hills area.
Singapore Tender Prime Sites Zion Road Upper Thomson Road Bid Consortium CDL-MFA Vega Property CDL-MFA Altair Property Guocoland Intrepid Investments Urban Redevelopment Authority Private Homes Serviced Apartments Commercial Space
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