URA's 99-Yr Site Receives One Bid

Source : The Business Times, August 12, 2008

An Urban Redevelopment Authority tender for a 99-year leasehold condominium site at Tampines Ave 1/Ave 10 facing Bedok Reservoir closed on Tuesday receiving just one bid.

Boon Keng Development bid S$84.63 million or S$117.96 per square foot of potential gross floor area. The bid was way below market expectations.