The tender from Kopar at Newton came has closed after attracting up to 7 bids. The 125,326 sq ft site’s top bid from CELH Development and Chip Eng Seng Corp was $418.8 million, equivalent to $1,192 psf ppr. A bid from GuocoLand at $417.24 million equivalent to $1,189.97 came second.
Based on the highest bid price, speculations show that Kopar at Newton site is likely to have a breakeven price of around $1,700 psf. This means that the selling price of the units could range anything from $1,900 to $2,000 psf.
With a maximum GFA of 350,914 sq ft, Kopar at Newton site can feature up to 436 condo units. The site became the first to be confirmed under the Government Land Sale program.
Kopar at Newton is situated in District 09 of Singapore and close to Newton MRT station. The strategic location makes the development ideal for residents working in Orchard Road, CBD, and surrounding areas. Investors and homebuyers will like it as well, due to its strong rental potential.
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