CID-TID joint venture's top bid for Punggol site sets record for EC land


Two of Singapore Favourite And Most Trusted Developer Joint Venture to develop a Mega EC

After an intense bidding competition between 17 developers, the land was finally secured by City Developments’ wholly owned subsidiary CDL Constellation and TID Residential. Piermont Grand will be the only EC in Singapore for the year 2019. The top bid of $509.37 million works out to a record price of $583 per square foot per plot ratio.

The advantage first time home buyers can enjoy by investing in this development is a definite win in terms of potential capital appreciation and rental demand, as the Singapore Government has plans to build the future digital Silicon valley right in the vicinity of the Sumang.

Source: Business Times

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