World · Singapore Bureau
Eco World wins Sin Ming housing plot tender with $208.1m bid
The Malaysian developer topped a seven-bid contest for the Prime District land parcel, offering $1,612 per square foot on a per plot ratio basis.
LSN Singapore ·
Eco World Development Group has secured the tender for a residential site in Sin Ming, submitting the highest bid of S$208.1 million in a competitive auction that drew seven proposals.
The Malaysian property developer's offer translates to S$1,612 per square foot on a per plot ratio basis, outpacing rival bids for the housing plot located in the established residential neighbourhood.
The tender process attracted significant interest from the development community, with multiple bidders vying for the opportunity to develop the land. The plot's location in Sin Ming, a mature estate with good connectivity and amenities, made it an attractive prospect for residential redevelopment.
The successful tender award marks another major land acquisition for Eco World in the Singapore market, as the company continues to expand its presence in the island's residential property sector. Details regarding the development timeline and project specifications are expected to be announced in due course.
The Sin Ming tender reflects sustained demand for residential land parcels in Singapore, despite challenging market conditions in the broader property sector.