City Developments Limited (CDL) and joint venture (JV) partner MCL Land have successfully clinched a coveted site in the Farrer Park area, based on their top bid of S$445.9 million, or S$1,129 per square foot per plot ratio (psf ppr). The 99-year leasehold site is located on Northumberland Road, and is Singapore’s first residential government land sales (GLS) tender for 2021.

CDL Group Chief Executive Officer Mr Sherman Kwek, said, “We are elated to be the top bidder for this coveted site in District 8 and honoured to have our first collaboration with MCL Land.”

“Our residential projects have sold well over the past few years and the acquisition of the Northumberland Road site ensures that CDL maintains a healthy inventory level in Singapore.”

MCL Land Chief Executive Officer Mr Tan Wee Hsien, said: "We have full confidence in the long-term fundamentals of the Singapore residential market and we look forward to creating a unique and exciting project for the community."

CDL and MCL Land intend to develop the 94,000 square foot land parcel into a mixed-use project comprising 408 residential apartments of up to 23 storeys, and a commercial retail space (including an infant care and childcare centre) on the ground floor. The development will also enjoy direct access to Farrer Park MRT Station on the North-East Line.