Sim Lian is the only developer to bid for this Bukit Timah GLS site – he has bid $454 million

Property developer Sim Lian Group was the only party to submit a bid for the second Government Land Sale (GLS) site on Holland Plain at the close of the tender on May 7. The site could accommodate up to 280 new private homes. The company made the sole bid of $454 million for the 169,175-square-foot site, which is located on Old Holland Road in prime District 10. The bid price is $1,491 psf per plot ratio (PPR). This is the second time that Sim Lian has participated in the GLS tender for a site on the Holland Plain. Last year it won the first plot issued by the government. Assuming it succeeds in securing the latest plot, it will be behind the first two new luxury condos in this new private residential neighbourhood. This will be an advantageous position for the developer to shape as well as set the development profile of the new condos in this planned private residential complex…