MCC Land wins bid for hotly-contested Potong Pasir mixed-use site
SINGAPORE — MCC Land has won the tender for a mixed residential and commercial site near Potong Pasir MRT Station, beating out 14 other bids with the highest offer of S$471.6 million.
MCC Land has won the tender for a mixed residential and commercial site near Potong Pasir MRT Station. Source: Urban Redevelopment Authority
SINGAPORE — MCC Land has won the tender for a mixed residential and commercial site near Potong Pasir MRT Station, beating out 14 other bids with the highest offer of S$471.6 million.
The 99-year leasehold site at Upper Serangoon Road/Meyappa Chettiar Road sits on about 173,830sqf of land and has a maximum allowable gross floor area of 608,408sqf. About 685 homes and 53,820sqf of commercial space can be developed on the site.
The top bid by MCC Land, a unit of Chinese state-owned enterprise Metallurgical Corporation of China, translates to S$775.17 per square feet per plot ratio, Urban Redevelopment Authority data showed. It was 2.4 per cent above the next highest bid of S$756.73 psfppr from Best Desire Investments, while the lowest bid of S$401.01 psfppr was submitted by Tennessee Investments.
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