Developers bid aggressively for Margaret Drive residential site

MCL Land (Regency) tops bid for residential site at Margaret Drive in Queenstown. 14 developers bidded for the piece of land, a clear indication of strong demand in the residential market. The price tag of $238 million for 22,195 sq m exceeded market expectation, which works to be 998 psf ppr.

The breakeven price is expected to be around $1500 per sq feet when the residential property hits the market.

Gross Floor area (sq m) 22,195
Price $238,390,000
psf ppr $998
Expected Breakeven (psf) $1,500

bid-margaret-drive-site

Source:

Straits Times

 

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