Sim Lian Group has emerged as the top bidder for the Jalan Tembusu GLS site, beating City Developments Ltd (CDL) by a mere 0.1%. The gross plot ratio for this 99-year leasehold site is set at 3.5, with a land area of 221,436 sq ft. Sim Lian’s winning bid to approximately $1,069 per square foot (psf) per plot ratio (ppr). Sim Lian will soon mark their entry into prime District 15 along Tanjong Katong Road, with a new project launching in 2024.
With a maximum gross floor area (GFA) of 775,034 sq ft, the site is expected to accommodate approximately 840 units.
This prime residential development site, also known as the Jalan Tembusu site, garnered immense attention from potential buyers due to its enviable location on Tanjong Katong Road. With area harmonisation in mind, the saleable area of the site is expected to undergo changes under new policies.
|Ranking||Name of Tenderer||Tender Sale Price ($)||Tender Sale Price ($ psf ppr)|
|1||Sim Lian Land Pte Ltd & Sim Lian Development Pte Ltd||$828.8m||$1069|
|2||CDL Developments & Frasers Property||$828m||$1068|