CDL's Bids for Woodlands, Bukit Panjang Plots Set New Benchmarks for EC Land

In a determined bid to replenish its executive condominium (EC) project pipeline, City Developments Limited (CDL) topped offers for two EC sites at tenders closing on Aug 5.

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Both plots drew firm interest from five bidders, with CDL's bids also setting new benchmarks for EC land.

A Woodlands Drive 17 parcel for 420 units saw a top bid of $360.9 million or $782 per square foot (psf) per plot ratio (ppr), slightly over the previous high set by Sim Lian's $768 psf ppr bid for a Tampines EC tendered in October 2024.

The other EC parcel tendered, a plot in Senja Close in Bukit Panjang that can yield 295 units, was also topped by CDL at $252.9 million or $771 psf ppr.

Mr Sherman Kwek, CDL's group chief executive officer, said: "We are delighted to have emerged as the top bidder for these two well-located and highly sought-after EC sites, in particular for the Woodlands Drive 17 site where our bid is 0.2 per cent over the next highest bidder."

He added: "With the full sell-out of our recent EC projects, Lumina Grand in Bukit Batok West and Copen Grand in Tengah, these two new sites totalling over 700 units represent a timely replenishment of our development pipeline in Singapore."

Three out of five bids for the Woodlands plot came in above the previous high.