Location sells. The first land parcel triggered from 1H15 GLS Programme’s Confirmed List at Sturdee Road, RCR, received an overwhelming response from developers as it closed its tender on 24th March 2015 with a total of 16 bids collected.
Sustained Land’s SL Capital (1) Pte. Ltd. topped the chart with its aggressive bid at $181.2M ($787.9 psf ppr), triumphing over Singland Homes Pte. Ltd. and Wee Hur Development Pte. Ltd., the first and second runner-up.
Noteworthy land slated for residential development in the area remains scarce which may explain the zesty bids. Currently, most of the non-landed housing developments in the area are boutique apartments with Kerrisdale and City Square Residences being the only exceptions.