Malaysian developer Eco World tops bids for Sin Ming area housing plot with $1,612 psf ppr bid
Tender draws 7 bids in total, topped by Eco World’s S$208.1 million bid
A private housing site near Bright Hill MRT station and Ai Tong School in Singapore recently saw intense bidding, with Eco World Development emerging victorious. Their bid of $1,612 per square foot per plot ratio (psf ppr) outpaced the second-highest offer by 11%. This 99-year leasehold plot, measuring 46,106 sq ft, could accommodate approximately 140 private homes.
Singapore's property market has experienced significant price hikes due to strong bidding at recent tenders, according to Newmark's Wong Shanting. Bright Hill station, set to become an interchange station on the Cross Island Line, and nearby schools and green spaces further enhance the area's appeal. However, the small size of the site may limit construction economies of scale and potential condo facilities.
Nearby developments, such as Thomson Reserve and Artisan 8, may impact future demand for residential units in the region.
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