SINGAPORE (THE BUSINESS TIMES) – Tenders for residential land sites in Lentor Hills Road Parcel A and Jalan Tembusu have been awarded to their highest bidders. The tender for Lentor Hills Road Parcel A was won by the joint venture between GuocoLand, Intrepid Investments and TID Residential at the top bid price of $586.6 million.

This works out to be $1,060 per square feet per plot ratio based on the 184,460 square feet (sf) land’s GFA of 553,383 sq ft, that can yield around 595 homes. The winning bid rate was 6.3% higher than its second top bid from a partnership between Sim Lian Development and Sim Lian Land.

A total of 4 bids were obtained by URA for the Lentor Hills land site, and the successful bidder will need to integrate an early-childhood development centre with at least 5,382 sq ft in GFA into the new development, recently confirmed to be named Lentor Hills Residences.

Source: https://www.straitstimes.com/business/property/ura-awards-jalan-tembusu-and-lentor-hills-site-to-highest-bidders