Residential

Jurong EC plot bid breaks record

An all-time record price for EC land has been made for a plot in Jurong, which has long been starved of new EC supply. The 99-year leasehold plot near Jurong Country Club received a top bid of $418.53 psf ppr with strong participation of 16 bidders. The buzz in the location after the strong sales at J Gateway condo last month has also been attributed to cause the strong demand for the EC plot. However, two other EC sites in Punggol did not bring about such good bidding price – they only fetched top bids of $355 psf ppr and $356 psf ppr, which was slightly higher than the $351 psf ppr bid of another plot at Punggol Field Walk / Punggol East. It was reported that developers were more mindful of a saturation of EC and 99-year private condo projects in ...