A state tender for a private residential site at Tampines Road has drawn a total 16 bids.
The top bid of $16.25 million came from Fragrance Properties.
Its bid price works out to $405 per square foot of potential gross floor area assuming an apartment development on the site.
The 99-year leasehold parcel can be developed into either apartments or landed homes.
Source: Business Times, 6 May 2010
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