CDL emerges as top bidder for EC site at Bukit Batok West Ave 5
With a bid of $336.068 million, City Developments Limited has emerged as the top bidder for the executive condominium (EC) site at Bukit Batok West Avenue 5. The site spans an area of approximately 7,316.2 square meters and was awarded to CDL at a land rate of $626 psf per plot ratio (ppr). The Bukit Batok West Ave 5 EC site tender attracted four bids, with CDL submitting the highest bid. Despite a narrow margin of victory, CDL is happy to secure the site and expand its real estate portfolio. Sim Lian submitted the second-highest bid, indicating a strong interest in the site amongst developers.
CDL happy to secure Bukit Batok West Ave 5 EC site at narrow margin
City Developments Limited (CDL) has emerged as the top bidder for the executive condominium (EC) site at Bukit Batok West Avenue 5. Despite stiff competition, CDL managed to secure the land with a winning bid of $336.068 million or $626 psf per plot ratio (psf ppr), by a razor-thin margin. Sim Lian submitted the second-highest bid, which was close to CDL’s winning bid. The highly-contested tender attracted a total of four bids from developers. CDL expressed happiness at securing the EC site, albeit at a narrow margin. The company sees the acquisition as a significant milestone in its property portfolio and looks forward to developing quality EC units at Bukit Batok West Avenue 5.
Sim Lian submits second highest bid for Bukit Batok West Ave 5 EC site
Sim Lian Land was the second highest bidder for the Bukit Batok West Ave 5 Executive Condominium site, with a proposal of $308.888 million, or a land rate of $573 psf per plot ratio. While they missed out on winning the tender, their strong bid shows they were serious contenders for the development of the EC site. CDL may have emerged victorious, but the competition was tough with four other bids being submitted for the highly-contested Bukit Batok West Ave 5 EC site. It will be interesting to see what CDL has planned for the site and how successful the development will be in the future.
Highly-contested Bukit Batok West Ave 5 EC site tender attracts four bids.
The Bukit Batok West Ave 5 EC site tender has seen a highly-contested bidding process, attracting four bids from developers. City Developments (CDL) emerged as the top bidder, securing the site at a narrow margin with a bid of $626 psf ppr. Sim Lian came in second with the second-highest bid. This latest development reinforces the growing demand for executive condominiums (EC) in the region. With another adjacent EC plot at Bukit Batok, the area shows promise for future growth and investment opportunities. CDL is happy to secure the site, and the narrow margin shows just how competitive the bidding process was.