11/08/2023
Sim Lian's highest bid of $828.8 million, equivalent to $1,069 per square foot per plot ratio (psf ppr), for the Jalan Tembusu site, is only marginally higher, at 0.1 per cent, than the next bid of $828 million, or $1,068 psf ppr, presented by a joint venture between City Developments Limited (CDL) and Frasers Property. This indicates a shared agreement on the site's perceived value among the bidders.
Sim Lian Group emerged as the top bidder for the private residential site at Jalan Tembusu, with only two bids received before the tender closed on 18 July 2023. Sim Lian’s bid of $828.8 million, or $1,069 psf per plot ratio (psf ppr), was only $800,000 (0.1%) more expensive than the joint bid of ...