Upper Serangoon View Parcel A attracts $258.8m top bid

Roughly $800 psm more than 2nd place.

The Urban Redevelopment Authority (URA) announced that the tender for Upper Serangoon View Parcel A has ended, revealing that Kingsford Development Pte Ltd placed the highest bid of $258.8m for an equivalent tendered sale price of $5,623.40 psm of gross floor area.

The second-highest bid came from EL Development Pte Ltd at $223.1m for a tendered sale price of $4,847.68 or roughly $800 psm less than the top bid.

The residential site, which was offered for sale on a 99-year lease term, attracted a total of eight bidders.

A decision on the award of the tender will be made after the bids have been evaluated, and will be publicised at a later date said URA.