Sim Lian Grp: secures top bid for a site in Tampines designated for public housing under the Design, Build and Sell Scheme (DBSS). Its top bid of S$178.2m works out to about S$261/psf of potential gfa, and 22% higher than the next highest offer of S$213.62/psf ppr. The site will be sold on 103-yr leasehold tenure inclusive of a 4 yr construction period. Co plans to build about 680 flats on the plot if awarded and hopes to launch the project around 3Q11...
About 60% of the units will be 4 room flats, another 25% will be 3 room flats and the remaining 15% will comprise 5 room flats.
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