CDL Secured Land Site at Woodlands. City Developments Ltd (CDL) secured a state land site in Woodlands with the highest bid of S$294.9 million, or S$904 per square foot per plot ratio (psf ppr), at a recent tender.
This marks CDL’s effort to replenish its landbank and contribute to the government’s urban development plans.
Details of CDL Secured Land Site at Woodlands
City Developments Ltd (CDL) emerged as the top bidder for a state land site in Woodlands, Singapore, with a winning bid of S$294.9 million, equivalent to S$904 per square foot per plot ratio (psf ppr). This is according to the latest press release by URA today on 12th Sep 2023.
CDL’s bid exceeded the next highest bid by approximately 8%, which was S$835 psf ppr from TID Residential, a joint venture between Hong Leong Holdings and Mitsui Fudosan.
The site, located along Champions Way in Woodlands, is designated for a residential development comprising approximately 350 private homes and spans around 14,433 square meters.
CDL plans to construct four 11-storey residential blocks, including around 350 residential units, an Early Childhood Development Centre, and a basement carpark. This development is designed to achieve a BCA Green Mark Platinum (Super Low Energy) rating in line with CDL’s commitment to reaching net-zero carbon emissions by 2030.
The successful bid by CDL comes after over a decade since a private residential project was launched in Woodlands, offering a rare opportunity for urban development.
CDL’s successful bid in Woodlands signifies its commitment to maintaining a stable project pipeline and contributing to the government’s urban rejuvenation plans in the area.
As more and more land sales are released, we will see more and more residential projects being launched to meet the needs of Singapore residents. An example is the new URA GLS sites at Clementi Avenue 1 and Pine Grove.
