<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>November 10, 2009, 6.57 pm (Singapore time)
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Update: Clementi Mall tender draws top bid of almost $542 million
By KALPANA RASHIWALA
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The Housing & Development Board's tender for Clementi Mall has attracted a total of six bids. The top bid by CM Domain Pte Ltd, a joint venture led by Singapore Press Holdings, was for $541.898 million. This works out to $2,800 per square foot based on the net lettable area of 18,000 sq metres or 193,750 sq ft.
The mall is being sold on 99-year leasehold tenure. SPH's joint venture partners are NTUC FairPrice Co-Operative and NTUC Income Insurance Co-op.
HDB is building only the core structure and facade, which it aims to hand over to the eventual buyer around August next year. The new owner will then finish the project internally, with flexibility to plan the theme and layout. The buyer will also have naming rights to the mall.
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</TD></TR><TR><TD vAlign=top width=452 colSpan=2>Update: Clementi Mall tender draws top bid of almost $542 million
By KALPANA RASHIWALA
<TABLE class=storyLinks border=0 cellSpacing=4 cellPadding=1 width=136 align=right><TBODY><TR class=font10><TD width=20 align=right>
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<SCRIPT type=text/javascript src="http://s7.addthis.com/js/250/addthis_widget.js#pub=xa-4ae026ba0e05c08d"></SCRIPT><SCRIPT type=text/javascript> var addthis_config = { username: "xa-4ae026ba0e05c08d", services_compact: 'facebook, twitter, favorites, myspace, google, digg, live, delicious, stumbleupon, more', services_exclude: 'print', data_use_flash: false } </SCRIPT> <!-- AddThis Button END --></TD></TR></TBODY></TABLE>The Housing & Development Board's tender for Clementi Mall has attracted a total of six bids. The top bid by CM Domain Pte Ltd, a joint venture led by Singapore Press Holdings, was for $541.898 million. This works out to $2,800 per square foot based on the net lettable area of 18,000 sq metres or 193,750 sq ft.
The mall is being sold on 99-year leasehold tenure. SPH's joint venture partners are NTUC FairPrice Co-Operative and NTUC Income Insurance Co-op.
HDB is building only the core structure and facade, which it aims to hand over to the eventual buyer around August next year. The new owner will then finish the project internally, with flexibility to plan the theme and layout. The buyer will also have naming rights to the mall.
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