The bidding for the Government Land Sale (GLS) site at Tengah Gardens Avenue has concluded on January 14th with three bids submitted. A consortium led by Hong Leong, which includes GuocoLand Singapore and CSC Land Group, has submitted the top bid of $675 million, equivalent to $821 psf per plot ratio (ppr).
The 99-year leasehold site, which is zoned for both residential and commercial use, spans approximately 273,906 sq ft and has a maximum gross floor area (GFA) of 821,720 sq ft. According to the Urban Redevelopment Authority (URA), the site has the potential to yield up to 860 residential …