SINGAPORE - The first private land parcel in Bidadari was awarded today to entities linked to Singapore Press Holdings and Kajima Development.
The partners had put in a top bid of $1.132 billion for the 99-year leasehold site, beating a competitive field of 12 bids.
In a press release this evening (June 21), SPH announced that it will build more than 600 private residential units on the first mixed commercial and residential land site in the new township, touted to be the next Bishan.
The 2.54 hectare land parcel next to Woodleigh MRT was hotly contested, as the site is slated o be a landmark project in the popular Bidadari estate.
An SPH spokeswoman said that other than the residential units, there will be a 65,000 sq ft community clu b and a 20,000 sq ft neighbourhood police centre, which were requirements of the tender, as well as a 310,000 sq ft retail and commercial component.
Mr Alan Chan, chief executive of SPH, highlighted the company's experience in developing upmarket residential condominium Sky@Eleven, as well as three malls - Paragon, The Clementi Mall and The Seletar Mall.
"This strategic move shows our commitment in expanding and enhancing our property portfolio," he said, adding that the company's past experience and expertise, strong partnership with Kajima and the site's potential are "winning factors that will contribute to the success of this project."
By Lee Xin En (SPH)