TID submits highest bid of $1,130 psf ppr for Lentor Hills Road (Parcel B)

Senja Close EC is additionally close to the upcoming Hillion Mall.

Senja Residences

Living in Bukit Panjang might be ideal for you if you’re looking for a quieter community. The location is not very active, and there are numerous services that you can take pleasure in right in the neighbourhood. It is likewise near to shopping centers, federal government high schools, as well as the Senja-Cashew Community Club.

The 99-year leasehold Lentor Hills Road (Parcel B) site, which covers 116,455 sq ft, can generate around 495 property systems. Based upon the land price, the future market price for the advancement might vary between $2,000 and also $2,100 psf, says Knight Frank’s Tay.

At the close of the tender for 3 government land sale (GLS) websites this evening, there were two bids for the Lentor Hills Roadway (Parcel B) property site, 2 bids for Lentor Central property website as well as 5 bids for the exec condominium (EC) website at Bukit Batok West Avenue 5.

Catherine He, director and head of research study, Singapore at Colliers, claims that the low number of proposals received for the Lentor Hills Road (Parcel B) and also Lentor Central websites show that designers were “much more cautious with their quotes due to the ample supply coming up in the location”. An overall of 1,340 domestic devices are approximated to be in the pipeline for Lentor.

TID’s quote was 18.9% more than the $950 psf ppr proposal sent by a consortium comprising China Communications Construction Co, Soilbuild Group Holdings and United Engineers (an unit of Yanlord Land), keeps in mind Leonard Tay, head of research at Knight Frank Singapore. This was likewise 6.6% over the $1,060 psf ppr for Lentor Hills Road (Parcel A) which was granted in January to Hong Leong Holdings, GuocoLand and also TID, he includes.

For Lentor Hills Road (Parcel B), TID, a joint venture in between Hong Leong Group and Mitsui Fudosan, became the top prospective buyer. TID sent a bid of $276.36 million, which exercises to $1,130 psf per story ratio (psf ppr).