Intrepid Investments (a subsidiary of Hong Leong Holdings) and CDL Constellation (a fully-owned subsidiary of City Developments Limited (CDL)) have made the highest bid of S$383.53 million (or S$732 per square foot) for a 99-year leasehold residential site in Sims Drive.

The 174,648 sq ft site is well located near Aljunied Mass Rapid Transit (MRT) station and within an established residential estate. It is well connected by the Kallang-Paya Lebar Expressway and the Pan Island Expressway, and just a short 15-minute drive to the Central Business District and Orchard Road Shopping Belt.

The site is also within a short travelling distance to Paya Lebar MRT station (one stop from Aljunied MRT station) and Paya Lebar is transforming into a well-connected and established regional hub, which includes the newly-developed mixed development, Paya Lebar Quarter. Moreover, it is within a short driving distance to the Singapore Sports Hub precinct as well as Nicoll Highway linking to Singapore’s financial district.

The site’s proximity to popular schools like Geylang Methodist School, Canossa Catholic Primary School, Cedar Primary School and Kong Hwa Primary School also makes this an attractive location for young families.

In addition, the site has a regular configuration and tender conditions requiring the successful tenderer to adopt PPVC which the consortium is very familiar with.

The joint venture will explore a residential development with several 17- or 18-storey blocks comprising about 560 units.