S’PORE LAND GETS
Chinese consortium offers S$1b for residential plot in Sterling Road
ARESIDENTIAL plot, here, may fetch a record price for a government land sale, with a Chinese consortium putting in the highest bid at S$1 billion (RM3.1 billion).
Logan Property (Singapore) Co and Nanshan Group Singapore Co submitted the highest bid in the Stirling Road land auction that closed on Thursday, according to a statement from the Urban Redevelopment Authority (URA). The winning bid will be decided once the offers have been evaluated.
The price would be equivalent to S$1,050 per square foot of gross floor area, translating into the highest absolute price paid for a residential plot, according to Cushman & Wakefield Inc.
The plot can house about 1,110 units, according to URA estimates.
“It’s the first time for a pure residential site to cross the S$1
The Myeongdong shopping district in Seoul. The Seoul Metropolitan Government’s Seoullo 7017 walkway connects to Toegye-ro towards Myeongdong in the east of the city.