IMMEDIATE RELEASE 20 NOVEMBER

Tender for Rosewood@Woodlands closes with eight bids, with highest bid at $56 million

1          The Singapore Land Authority (SLA) has today closed the tender for the residential development at Woodlands Avenue 2/Rosewood Drive.  "Rosewood at Woodlands: Where the Good Life Blooms" attracted a total of eight bids, with the highest bid coming from EL Development Pte Ltd. EL Development’s bid was $56 million.

2          The range of bids was between $36.4 million and $56 million. Details of the bids can be found in Annex A. The site has a land area of 16,000 sq m or 172,223 sq ft with a gross plot ratio of 1.4. The successful tenderer can potentially build a condominium of up to five storeys with a Gross Floor Area (GFA) of 22,400 sq m or 241,112 sq ft.

3          The tender for this site, which was offered for sale on a 99-year lease, was launched on 23 October 2007. International property consultant, Colliers International, was appointed by the SLA to provide marketing services for the site.

4          SLA will evaluate the bids and the award will be announced in a few days’ time.

-End-

Attachments
Annex A: Details of the bids

Issued by:
The Singapore Land Authority
20 November 2007

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