Bids for Jalan Bunga Rampai and Irwell Bank Rd GLS sites lower than expected
Wee Hur Development had placed the highest bid for the Government Land Sales (GLS) at Jalan Bunga Rampai. The winning bid for the 4,666.6 square metre site, which is located in District 19, was $93.39 million or $885 psf ppr. Based on the current regulations, Wee Hur can build 115 residential apartments at the site.
For the other GLS site at Irwell Bank Road, the winning bid came from City Developments Limited (CDL). CDL bidded $583.89 million for the site, which is bounded by Irwell Hill Road and River Valley Road, and is situated at District 9.
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