Land parcel at Geylang East Avenue 1 attracts whopping 16 bids

See how much was the highest bid.

The Urban Redevelopment Authority (URA) announced that it has closed the tender for the residential site at Geylang East Avenue 1, with the land parcel drawing in 16 bids, the highest of which was $145.89m from S L (Serangoon) Pte Ltd.

With that bid, S L (Serangoon) Pte Ltd's tendered sale price amounts to $8,352.32 per sqm of gross floor area (GFA).

The second-highest bid of $142.78m came from Tannery Holdings Pte Ltd and Sekisui House, Ltd.

Meanwhile, at the other end of the bidding spectrum, the lowest tender was $104.35m from Alliance Homes Pte Ltd.

The site at Geylang East Avenue 1 was launched for public tender on 16 December 2013. It was originally on the Reserve List of the Government Land Sales Programme.

The site was offered for sale on a 99-year lease term, and has a site area of 6,238.1 sqm and a maximum permissible GFA of 17,467 sqm.