PARK COLONIAL OFFICIAL PRICE GUIDE
Due to the highly attractive location of this huge land site, 15 ambitious bids were submitted by the local big boys in the real estate industry during the open tender exercise in 2017. It was an overwhelming response with many offer exceeding expectations for this highly favoured plum land. With such a strong showing on the bidding behaviour, it only reflects the tremendous potential the site has going forward in this new Bidadari town.
It was eventually awarded to CEL Unique Development after a hotly contested battle, a 60/40 joint venture between Chip Eng Seng Corporation and Unique Real Estate (a JV of KSH Holdings & Heeton Holdings). The consortium had entered a price bid of $700.7 million for this 210,414 square foot site.
Translating it to be $1,110 psf of gross floor area.
We’ll be updating the Park Colonial Official Price Guide here when it is finalised. Stay connected!