Bids at the close of the tender for Dairy Farm Walk Goverment Land Sale (GLS) site
Source: URA, developers, consultants
The winning bid came from a joint venture between Qingjian Realty and Santarli Construction. The joint venture partners have broken their last record price of $659 psf ppr for the EC site at Tampines Street 62 which they won in July 2021
The top bid of $662 psf ppr is 9.8% higher than that of the nearby Tengah Garden Walk EC plot, which was awarded in June 2021 to a joint venture between City Developments and MCL Land for $603 psf ppr, says Wong Siew Ying, PropNex head of research and content.
At the land rate of $662 psf ppr, the new EC at Bukit Batok West could be launched at a record price of $1,328 psf to $1,388 psf,estimates ERA’s Mak.