The Urban Reconstruction Bureau announced the bidding results for the Chuan Grove location on Tuesday (July 8). The highest bid price is equivalent to a floor area ratio of 1,376 yuan per square foot, 7.3% more than the second highest price. This ar...
The Urban Reconstruction Bureau announced the bidding results for the Chuan Grove location on Tuesday (July 8). The highest bid price is equivalent to a floor area ratio of 1,376 yuan per square foot, 7.3% more than the second highest price.
This area belongs to the list of government land sales plans in the second half of last year. It covers an area of 158 hectares (about 170,000 square feet) and can build 555 private housing units.
It is worth noting that another government lot adjacent to this area began bidding in May this year. The area of this plot is small, 1.45 hectares, and 505 private housing units can be built. This means that there will be approximately 1055 new private housing units in the area.
The private residential area of Quanlin Road launched by the government at the end of last year was favored by developers, and as many as seven parties participated in the bidding. The highest bid price is RMB 703.6 million jointly issued by Sing Holdings and Sunway Developments.
The second highest price was CDL Divine Pte. Ltd, a subsidiary of Urban Development (CDL), with a bid price of RMB 655.5 million.
