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Tender for Yishun Industrial Plot Gets Top Bid of S$51.39 million

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by Ernie B. Calucag

A state tender for a 30-year leasehold industrial site at Yishun Avenue 9 has attracted eight bids, the Urban Redevelopment Authority (URA) announced Thursday.

The top bid came from Soon Hock Tuas Development Pte Ltd, amounting to S$51.388 million or S$95.13 per square foot per plot ratio (psf ppr).

This was 12.7 per cent above the next highest offer of S$84.41 psf ppr from a partnership between Capital Development and ZACD Investments.

Wee Hur Development placed the lowest bid – S$25.3 million or S$46.83 psf ppr.