15/01/2017
SINGAPORE — The tender for a large mixed-use site in Paya Lebar Central has attracted bullish bids from developers, underlining their confidence in the prospects of the area as a regional hub as well as in Singapore’s long-term prospects.
The nearly 4-ha site on Paya Lebar Road and Sims Avenue garnered a top bid of S$1.67 billion, or around S$942.56 per square foot per plot ratio (psf ppr), from a group consisting of Roma Central, Milano Central and Verona Central, said the Urban Redevelopment Authority at the close of tender yesterday.
The three entities are linked to Australian developer Lend Lease, said analysts that include Cushman & Wakefield’s director of research Christine Li.