There are 10 developers join in a tender for a 99-year leasehold site in Middle Road which allocated for residential with commercial use on the first floor. The Middle Road Condo was bought with $492 million or $1,458 per square foot per plot ratio (psf ppr) was from a Wing Tai Holdings unit. That means of $1,393 psf ppr lodged by a tie-up between MCC Land (Singapore) and Greatview Investment.

Be development placed the lowest offer of $351.96 million or s$1,043 psf ppr. With a joint venture between city developments and MCL Land, another involving Guocoland, intrepid investments hong realty a solo bid from Far East Organization.

Analysts had predicted keen interest for this rare residential site in the central area. The plot spans 80,300 sqft and can yield an estimated 375 homes. There are two zones: the low-rise one that can up to six storeys and a high-rise zone of up to 20 storeys. At the same tender, Penrose Condo is a 99-year leasehold private housing site in Sims Drive, Geylang, drew five bids.

The highest of nearly $383.53 million or $732 psf ppr came from a partnership between a unit of Hong Leong Holdings and a fully-owned subsidiary of City Developments. Penrose Residences has a land size of 174,600 sqft plot can yield an estimated 570 housing units. The second-highest bid of $343 million or $655 psf ppr came from a Guo-coLand unit. The lowest bid was from Trident East at $286.2 million.