CDL Emerges as Frontrunner in Lumina Grand EC’s Tender Process with Bid of $336.068million and Land Rate of $626psf ppr, Just 0.17% Ahead of Sim Lian Group’s Offer
Lumina Grand EC, a development by City Developments Limited, has achieved great success during its tender process, which was highly sought-after. With total bids received being four, the one by CDL was the highest at $336.068million, which corresponds to a land rate of $626 psf per plot ratio. Only a slight margin of 0.17% was the difference between CDL’s and Sim Lian Group’s bids, with the latter offering $625 psf ppr.
Lumina Grand EC, located at Bukit Batok West Avenue 5, has been developed by City Developments Limited. During its recent tender process, the EC site has been highly sought-after, with four bids received. CDL emerged as the frontrunner with an offer of $336.068million, reckoning to a land rate of $626 psf per plot ratio. The Sim Lian Group’s bid of $625 psf ppr was just a tad behind, with a difference of only 0.17% from CDL.
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