Analysts say the bids were often higher than expected during the recession.
MCC Land (Singapore) was the highest bidder at $248.99 million for the 8,880 square meter site in Tanah Merah Kechil Link, near to Tanah Merah MRT station. According to economists, this amounts to a land cost of around $930 per sq ft per plot ratio (psf ppr).
This is the most bids received since the Holland Road commercial and residential site tender in May 2018, when 15 consortiums submitted 15 bids.
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