SINGAPORE: A 99-year leasehold private condo site in Lorong 6/Lorong 4 Toa Payoh drew 14 bids at a land tender that closed on Thursday.

The highest bid of S$345.86 million or S$755.30 per square foot per plot ratio (psf ppr) came from a consortium comprising Evia Real Estate (7) Pte Ltd, Gamuda Berhad and Maxdin Pte Ltd.

Sing Holdings submitted the second highest bid of S$747.09 psf ppr.

The lowest bid was from Cheung Kong Holdings’ Best Desire Investments Limited, at S$400 psf ppr.
The 1.2 hectare site can house around 535 apartment units.

The development is likely to be very popular, given the general lack of condominiums supply in and around Toa Payoh.