Tuesday, August 19, 2008

Hoi Hup-Led Group Top Bidder For DBSS Site In Toa Payoh

Source : The Business Times, August 19, 2008

A consortium led by Hoi Hup Realty has emerged as the top bidder for a Design, Build and Sell Scheme (DBSS) site at Lorong 1A Toa Payoh.

Its bid of about $198.82 million (US$140.66 million) works out to about $160 per square foot of potential gross floor area.

The site is being sold on 103-year leasehold tenure. The consortium that placed the top bid also includes Sunway Developments Pte Ltd and Hoi Hup JV Development Pte Ltd.

The tender attracted two other bids - from TP Development Pte Ltd, which bid nearly $160.3 million and Sim Lian Land ($130 million).

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