Cuscaden Road GLS Tender Won By SC Global Developments, FEC Properties and New World Development at $410m

Cuscaden Road GLS Site
The tender for a GLS site along Cuscaden Road, within the Orchard planning area (District 10), has been successfully closed.

SC Global Developments, FEC Properties and New World Development teamed up to offer the winning bid of close to $410m for the prime residential site, which is just a few minutes’ walk from Orchard Boulevard MRT station (Thomson East Coast Line) and opposite a trio of glitzy hotels – Hotel Jen, The Regent and St Regis.
Cuscaden Road GLS
This was a hotly contested residential site with a total of 9 bidders. It has an area of 5,722.5 sqm and GFA of 16,023sqm.

The winning bid translates to $2,377 per square foot per plot ratio (psf ppr), surpassing market expectations of $1,800 to $2,300 psf ppr and making it the record bid to date.

Consultants expect a break-even price of $3,100 to $3,300 psf, with selling prices for the new project from $3,300 to $3,700 psf.
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