Gambas Crescent land parcel 1 receives top bid of $44.7m
A whopping $14m above second-place bid.
Grow-Tech Properties Pte Ltd placed the top bid of $44.7m for Gambas Crescent land parcel 1, leading a field of six bids, according to a release by the Urban Redevelopment Authority (URA).
This top bid was more than $14m more than the next highest bid of $30.1m from Hock Lian Seng Holdings Limited.
The Grow-Tech bid translates to a tendered sale price of $1,484.3 psm given a site area of 12,066.7 sqm.
A decision on the award of the tender will be made after the bids have been evaluated, and will be publicised by URA at a later date.