Tulip Garden was sold to China developer Yanlord & MCL Land from Hong Kong. Both are experience developer here in Singapore and has completed numerous development here. This site could yield up to 670 residential units with a plot ratio of 1.6. The redeveloped project is slated for completion by 2023.
The development was sold at $906.9 million which work out to a premium of about 20 per cent above the reserve price, and a land rate of $1,790 per square foot per plot ratio (psf ppr) for the 316,708 sq ft estate.
This will translate to an estimate average selling price of $2,827 per square foot.
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