Yanlord Group Bid $481 Million or $1,108psf per plot ratio for Lentor Central Site
Posted on June 9, 2023 by amsteruni
Yanlord Group, one of the leading Chinese developers, has placed a record-breaking bid of $481 million or $1,108psf per plot ratio (psf ppr) for the Lentor Central site in Singapore. This bid surpasses the previous record of $1,073 psf ppr set by another Chinese developer, Wing Tai Holdings, in May 2017 for a residential site in the Core Central Region.
The 19,833.4 sq m Lentor Central site is located along Lentor Avenue and is zoned for residential development. Yanlord’s bid is a clear indication of the confidence they have in the Singapore property market. This also signals a growing demand for residential property in the city-state, as developers continue to compete to acquire more land to meet the needs of increasing population and economic growth.
The Lentor Central site has a maximum gross floor area (GFA) of 24,400 sq m and can potentially yield up to 495 residential units. This …
0