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Hong Leong Group bids $383.5 mil for Sims Drive site

Hong Leong Group’s group winning bid of $383.5 million which translate to $732 psf per plot ratio, is considered to be a cheaper side and a great deal to the developer. This also means that it is good news for future buyers as the developer has more flexibility in pricing their units. Given the ample of supply out there, we can expect Hong Leong Group to price it competitively thus giving the advantage to buyers.

Given it’s proximity to Aljunied MRT station and many schools, coupled with the expected competitive pricing, we can look forward to a very good sell out when Penrose is launched.

Source: https://www.edgeprop.sg/property-news/hong-leong-group-bids-3835-mil-sims-drive-site

 

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