EL Development has put in the top bid of S$56 million for a residential development at the junction of Woodlands Avenue 2 and Rosewood Drive.
The site attracted eight bids ranging between S$36.4 million and S$56 million. The 99-year leasehold site spans a land area of over 170,000 square feet. It has a plot ratio of 1.4.
The new development can yield over 240,000 square feet, with buildings of up to five storeys.
The winner is due to be announced in a few days. - CNA/ms
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