A 99-years’ leasehold land just released for tender through Government Land Sales (GLS) programme. This plot has a gross-floor area (GFA) of close to 1.04 million sft which can yield more than 800 residential units, bus interchange and also space for commercial. This will be the most iconic building in the Beauty World area and which is why it calls for a dual-envelope bidding which bidder need to have compelling concepts during the first stage of bidding before proceeding to the second stage of bidding which is based on price. This plot of land is attractive because of its location as it is within 1-km to two highly sought after primary school in the estate. And with much plans by government to rejuvenate the area and future Cross-Island Line that will better connect the Changi region, Punggol digital district and Jurong region, we see a strong potential gains for Mayfair Modern purchasers.
Source: The Business Time
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