Tender for residential government land sale (GLS) site at Lentor Gardens closed today with a single bid from GuocoLand and Intrepid Investments. The joint venture partners submitted a bid of $486.8 million, which translates to a land rate of $985 psf per plot ratio (psf ppr). This is the lowest bid for the Lentor precinct to date.
The last two GLS sites to be sold in Lentor were at Lentor Central and Lentor Hill (Parcel B). Lentor Central was awarded to a consortium led by China Communications Construction, Soilbuild Group Holdings and United Engineers at a winning bid of $481.03 million ($1,108 psf ppr). TID, a joint venture between Hong Leong Group and Mitsui Fudosan, was the successful bidder for the Lentor Hill (Parcel B) at $276.36 million ($1,130 psf ppr).
Meanwhile, in January 2022, a GLS site at Lentor Hills Road (Parcel A) was sold to GuocoLand, Hong Leong …
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