Sunmaster clinches Sengkang West residential site with S$200.5m bid

[Watchman]

Sunmaster clinches Sengkang West residential site with S$200.5m bid
By Jonathan Peeris, 938LIVE | Posted: 08 February 2010 2015 hrs

SINGAPORE: The Housing & Development Board has awarded the tender for the residential site at the junction of Sengkang West Avenue and Fernvale Link to Sunmaster Holdings.

The company submitted the highest tender for the site at S$200.5 million out of a total of 10 bids received.

The minimum offer price was S$70 million.

The land parcel is about 16,998 square metres and is for a proposed condominium development.

The lease term will be for 99 years.

The tender was launched in January this year and closed last Thursday. - CNA/vm

 

[ahleebabasingaporethief]

This is a subsidiary of CITY DEVELOPMENTS. Using $200m to try to prop up property market? Lowest bid was only $70m.
It is quite obviously so!
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Name of company
:
Sunmaster Holdings Pte. Ltd.
Date & country of incorporation
:
14 May 2007
Singapore
Issued share capital
:
$2
Principal activity
:
Investment holding and property owner and developer
(