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Toa Payoh residential site draws 14 bids
50% of Gem Residences sold in a day
A residential site in Toa Payoh drew 14 bids at the close of the auction on Thursday (Jun 18), indicating strong demand from developers for sites in mature housing estates.
The Housing and Development Board (HDB) said the 12,154.6 square metre, 99-year leasehold site at the junction of Lorong 6 and Lorong 4 Toa Payoh attracted a top bid of S$345.86 million from a group that includes Evia Real Estate, Greatearth and Malaysia’s Gamuda Bhd. This works out to……Read More
Around 50 per cent of new condo Gem Residences was sold in a day, ahead of its public launch today.
Such a successful sales result has not been seen in over a year, but experts noted that this likely reflected the appeal of this particular project.
“It’s in Toa Payoh, where a launch hasn’t taken place for some……Read More
The Housing Development Board of Singapore had on 23 June 2015, accepted the tender submitted jointly by Gamuda with Evia Real Estate (7) Pte Ltd (“Evia”) and Maxdin Pte Ltd (“Maxdin”) to acquire a piece of leasehold land measuring approximately 12,154.6 square meters at the tender price of Singapore Dollars (“SGD”)345,860,000.00 (“Purchase Consideration”) via a joint venture company which shall be incorporated on the basis of 50% (Gamuda): 20% (Evia): 30% (Maxdin) (“JVCo”).
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