A plum site in Lorong Lew Lian (now named Forestwood Residences) has attracted a bumper crop of l1 bids as developers move to replenish their land banks in the light of fewer state plots going on the market.

City Developments (CDL) and joint venture partners Hong Leong Holdings and TID submitted the top bid of $321 million, or about $710 per sq ft per plot ratio (psf ppr) for the site tender, which closed on Thursday (Nov 05).

That was 2.6 per cent above the next highest bid of $312.88 million or $692 psf ppr, from a consortium of Singapore Land unit Singland Homes and UOL Venture Investments. UOL Group is the developer of the nearby Parc Riviera, Clement Canopy and Park Place residences Floor Plan, Northwave EC, Treasure Crest EC