Frasers Property, Mitsubishi Estate JV Pips CDL with S$610.75 Million Top Bid for Kallang Plot

Frasers-Mitsubishi JV Places $476M Top Bid for Singapore Site

Frasers Property and Mitsubishi Estate submitted the top bid of S$610.75 million ($476 million) for a residential site in central Singapore, edging out a rival offer from City Developments Ltd. The joint venture’s bid for the Kallang Close plot translates... Read More>> The post Frasers-Mitsubishi Estate JV Places $476M Top Bid for Central Singapore Residential Site appeared first on Mingtiandi.

Frasers Property, Mitsubishi Estate JV pips CDL with S$610.75 million top bid for Kallang plot

The highest bid of S$1,415 psf ppr is just 0.7% above CDL’s offer; site fetches four bids

Frasers Property-Mitsubishi Estate tops bid for Kallang Close GLS site at $1,415 psf ppr

The government land sale (GLS) site at Kallang Close drew four bids at the close of the tender on April 7. The top bid of $610.8 million or $1,415 psf per plot ratio (psf ppr) came from a joint venture between Frasers Property and Mitsubishi Estate.      The joint venture’s bid is just 0.7% above City Development’s bid of $606.4 million or $1,405 psf ppr. The remaining bids came from a joint venture between Hong Leong Holdings and TID ($1,301 ps…