Residential site at Bedok Reservoir Road received 8 bids

The top bid of $320 million or $465 psf/plot ratio translates to a breakeven cost of around $800psf.

According to Li Hiaw Ho, Executive Director of CBRE Research, the response of 8 bids to the residential site at Bedok Reservoir Road showed that developers are keen on the site.

The site is located on the north-western end of Bedok New Town, with a fairly good view of Bedok Reservoir . It is within walking distance to the future Bedok Town Park MRT station of the Downtown Line 3, which is scheduled to be completed in 2017.

Schools, food courts, supermarket and other amenities are available nearby.

The site is designated for a five-storey condominium development. It is likely that a new residential project on this site can fetch around $900 psf.