UOL, CapitaLand aim high with S$1.4 billion or S$1,537 psf ppr bid for New Upper Changi site
Their joint venture’s offer marks a new high for pure residential plots in the Outside Central Region.
A top bid of $1.4 billion, or $1,537 per square foot per plot ratio (psf ppr), was made for a 1,010-unit residential project in Bedok, Singapore. UOL Group and CapitaLand Development (CLD), along with Singapore Land, jointly submitted the winning offer, which outpaced the second-highest bid by $100 million. The developers hailed the location as exceptional, citing its proximity to Bedok Town Centre, Bedok MRT station, Bedok Mall, reputable schools, and East Coast Park.
They stated that the new development will consist of two- to four-bedroom units, with pricing kept realistic.
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