Gamuda-Evia JV top bidder for Anchorvale Crescent executive condo site — report

14 Sep 2018 | The Business Times

EVIA Real Estate and Gamuda have joined hands to become the highest bidder for the executive condominium (EC) site Anchorvale Crescent in Sengkang at S$318.89 million or S$576.2 per square foot per plot ratio (psf ppr).

They pipped the second highest bidder, Qingjian Realty by just S$899. The third highest offer came from Hoi Hup Realty and Sunway Developments’ S$307.3 million or S$555.3 psf ppr.

There were seven bidders in all, with the lowest bid coming in at S$277.2 million or S$500.95 psf ppr from Anchora Development, owned by Hong Realty, Intrepid Investments and TID Residential.

The Anchorvale Crescent site was launched from the reserve list of the Government Land Sales (GLS) Programme. Its tender was triggered two months ago with a successful application by an unnamed developer committed to a bid of at least S$255 million, or nearly S$461 psf ppr, for the 99-year leasehold site. The 1.71-hectare site can be developed into a maximum of 550 residential units.

This year, there was only one EC project launched – the 628-unit Rivercove Residences by Hoi Hup and Sunway Developments in Anchorvale Lane.