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Sembawang EC site sees tepid response; JBE unit tops tender with S$692 psf ppr bid
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Oriental Pacific Holdings submits top bid of $692 psf ppr for Sembawang Road EC site
Four bids were received for the executive condo (EC) site at Sembawang Road. Oriental Pacific Holdings, founded by Jane Lam (formerly of JBE Holdings), submitted the highest bid at $198 million, or $692 psf ppr. Lam previously developed the nearby condo, The Commodore, with 219 units. The second-highest bid came from TID, a joint venture between Hong Leong Group and Mitsui Fudosan, which submitted a bid of $190 million ($665 psf ppr). The…
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