HDB announced that the executive condominium development site on Woodlands Avenue 12 would be awarded to Hao Yuan Investment Pte Ltd, which sub- mitted the highest bid of $103.8 million. The development is located on a site measuring 133,714 sq ft, with a maximum gross floor area of 374,400 sq ft. The bid price works out to $278 psf per plot ratio (ppr), with a breakeven price estimated at $600 to $640 psf. The bid price for the Woodlands site is considered the lowest since July 2011, when Frasers Centrepoint and Keong Hong jointly won an EC site at Punggol Way with a bid of $270 psf ppr. The site has since been redeveloped into Twin Waterfalls EC.

This article appeared in the City & Country of Issue 666 (Mar 02) of The Edge Singapore.