09/07/2025
City Developments Limited emerged as the top bidder for the Lakeside Drive site, submitting a bid 10.4% higher than the second-highest offer of $550.56 million ($1,025 psf ppr) by Frasers Property and Mitsubishi Estate Asia.
In third place was CapitaLand Development and Sing Holdings, with a $529 million bid ($985 psf ppr). Other bids came from Wee Hur Holdings ($503.9 million or $938 psf ppr), a Hong Leong Holdings-TID joint venture ($495.18 million or $922 psf ppr), and Sim Lian Group ($488.2 million or $909 psf ppr), showing a 24.5% spread between highest and lowest bids—highlighting market uncertainty.
Read more here:
https://lakesidedriveresidences.com/2025/06/05/city-developments-ltd-submits-top-bid-of-1132-psf-ppr-for-lakeside-drive-gls-site/
Source: URA City Developments Limited (CDL) emerged as the top bidder for the Lakeside Drive site, submitting a bid 10.4% higher than the second-highest offer of $550.56 million ($1,025 psf ppr) by…