HDB has awarded a mixed commercial and residential development site (pictured) at Yishun Avenue 2/Yishun Central 1 to Frasers Centrepoint, after the developer submitted a stunning bid of S$1.43 billion.
Frasers' top offer was about 50 percent higher than the second bid of S$969.3 million from Far East Civil Engineering, Far East Orchard and Sekisui House.
The 99-year leasehold site has a land area of 41,084.9 sq m and maximum gross floor area (GFA) of 123,254.7 sq m, with a plot ratio of 3.0.
The proposed mixed-use development is expected to generate 890 housing units and will be integrated with a bus interchange and community club.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email firstname.lastname@example.org