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Singapore public housing board garners S$271M top bid for Canberra Link site

Singapore's Housing & Development Board, or HDB, received nine bids from developers for the Canberra Link plot in the city-state, with Hoi Hup Realty Pte. Ltd. and Sunway Developments Pte. Ltd. jointly submitting the highest bid of S$271.0 million.

A partnership between Greatview Investment Pte. Ltd. and MCC Land (Singapore) Pte. Ltd. submitted the second highest bid of approximately S$258.9 million, while JBE Development Pte. Ltd. participated with the lowest bid of roughly S$201.8 million.

Other bidders for the plot were Sim Lian Land Pte Ltd.; a partnership between City Developments Ltd. unit CDL Constellation Pte. Ltd. and TID Residential Pte. Ltd.; a consortium made up of United Engineers Ltd. subsidiary UED Residential Pte. Ltd. and TSKY (Jervois) Pte. Ltd.; a joint venture between Gamuda (Singapore) Pte. Ltd. and Evia Real Estate (8) Pte. Ltd.; and Peak Land Pte. Ltd.

The 18,040.6-square-meter site can accommodate the development of an estimated 450-unit executive condominium, with a maximum building height of up to 50 meters above mean sea level.

HDB will make a decision on who to award the 99-year leasehold to after reviewing the bids and will announce the tender winner at a later date.

The Canberra Link site was part of four sites put up for sale in June under the Lion City's Urban Redevelopment Authority's government land sales program for the 2018 first-half.

As of Sept. 4, US$1 was equivalent to S$1.38.