Mount Sophia land parcel attracts highest bid of $442.28m

Just $280,000 more than second-place bidder.

The Mount Sophia land parcel saw a close bidding race with nine bidders participating in the round for the residential site, the Urban Redevelopment Authority announced in a release.

The group composed of Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and S C Wong Holdings Pte Ltd sent in the highest bid of $442.28m for a tendered sale price of $12,448.77 per sqm of the 35,528sqm gross floor area. The site area is 23,770.5 sqm.

The next highest bid came from Fantasia Investment (Singapore) Pte. Ltd. and Singhome (Mount Sophia) Pte. Ltd. with a $442m bid.

The tender has a lease period of 99 years, with the awarding of the tender to be released after the bids have been evaluated.news,