22/09/2019
CapitaLand Limited and joint venture partner City Developments Limited (CDL) have successfully clinched the attractive mixed-use residential and commercial site in Singapore’s vibrant Sengkang Central at a tender price of S$777.78 million.
The bid was submitted on a Two-envelope Concept and Price Revenue tender system which works out to S$923.60 per square foot of gross floor area1. Leveraging synergies from CapitaLand’s and CDL’s proven expertise in integrated developments, the joint venture will transform the 3.7-hectare site – the largest commercial and residential site awarded since 2015 – into an integrated community hub with 700 residential apartments, meeting the needs of residents in Buangkok with amenities such as a hawker centre, community club, childcare centre, retail shops, as well as public rail and bus transport facilities sited in a one-stop location.
Integrated community hub with excellent transportation connectivity poised to attract first-time home buyers and upgraders.
