City Development Limited (CDL) won the Jalan Tembusu site with a bid of $768 million, equivalent to $1,302 per sq ft per plot ratio (psf ppr), surpassing the previous land rate record in the city fringe area set by a Northumberland Road site awarded in May 2021, which was $1,129 psf ppr. The acquisition of the Jalan Tembusu GLS site could increase CDL’s development inventory by more than 600 units.
Source: The Straits Times
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