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A state bid for a commercial and residential website with strong involvement from the China contingent has surprised the market with a whopping 15 bids, next to Potong Pasir MRT Station, The Andrew Residences
The very best four bids were project by China/Hong Kong players (including one who teamed up with a Singapore developer). The China players usually have a more positive perspective of the Singapore property market compared with Singapore developers.
Local players, on the other hand, usually cast more bids that were calculated.
The most recent website, at Meyappa Chettiar Road, is regarded as choicer as it has a larger commercial part and is right next to the MRT station.
“It is like the top four bidders do not see any softening in the marketplace,” said a market watcher.
Top bidder MCC Property’s bid of S$471.62 million translates to a component property cost of S$775.17 psf ppr.
The market watcher said:
Santarli is developing the Sant Ritz condominium diagonally opposite the site.
In fourth place was a Singapore component of the Nanshan Group in China. The Longkou City, Shandong-based group is involved in a variety of subjects, including finance, high tech property, businesses and instruction.
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The Poiz Residences Unit Types
|2 + Study||829sqft|
|1 + Study||452-484sqft|
|2 + Study||775sqft|
|1 + Study||538sqft|
The Poiz Residences Details
|Estimated TOP:||19 August 2019||Property Name:||The Poiz Residences|
|Developer:||MCC Land||Address:||Meyappa Chettiar Road|
|Tenure/Status:||99 years from on 20 August 2014||District No.:||13|
|Plot Size.:||16,149.3 sqm||No of Blocks:||TBA|
|Total Units:||Residential: 731; Commercial: 84|