SP Setia puts in bid for residential plot in Singapore, reportedly at RM837m

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KUALA LUMPUR: SP Setia Bhd's unit in Singapore has submitted a tender of a residential plot at Toh Tuck Road, in the island republic, which was reported to be the highest at S$265mil (RM837.66mil).

The property developer said on Wednesday that its unit, SP Setia International had submitted a bid for the land but has yet to receive the official notification from the Urban Redevelopment Authority, Singapore on the final result of the tender award.

“A detailed announcement will be made to Bursa Malaysia Securities Bhd upon receipt of notification of the final result of the tender award,” it said.

It was referring to an article published by The Business Times, Singapore that an overwhelming 24 bids were submitted for the tender of a residential plot at Toh Tuck Road.

Among them, Malaysian property developer SP Setia International's was the highest - at S$265mil, which translates to about S$939 per square foot per plot ratio (psf ppr)."