KUALA LUMPUR (Sept 14): Gamuda Bhd's wholly-owned unit Gamuda (Singapore) Pte Ltd and Singapore-based Evia Real Estate (8) Pte Ltd have joined hands to become the highest bidder for a new executive condominium (EC) site at Anchorvale Crescent in Sengkang, Singapore at S$318.89 million or S$576.2 per sq ft per plot ratio (psf ppr), according to The Business Times report today.
The Gamuda-Evia Real Estate joint venture reportedly beat the second highest bidder, Qingjian Realty, by just S$899.
The third highest offer came from Hoi Hup Realty and Sunway Developments' S$307.3 million or S$555.3 psf ppr, the report added.
"There were seven bidders in all, with the lowest bid coming in at S$277.2 million or S$500.95 psf ppr from Anchora Development, owned by Hong Realty, Intrepid Investments and TID Residential," said The Business Times.
The new EC site at Anchorvale Crescent site is under Singapore's 2018 Government Land Sales Programme. It is a 99-year leasehold site on 1.71ha of land and is strategically located next to Cheng Lim LRT and close to shopping, dining, entertainment and leisure, schools and healthcare.
Gamuda shares closed one sen or 0.29% higher at RM3.42 today, with 3.08 million shares done, bringing it a market capitalisation of RM8.44 billion.