| | SINGAPORE : Sentosa Cove is continuing to attract strong demand.
There was aggressive bidding for 12 bungalow land parcels there at an auction on Friday.
All the sites achieved new benchmark highs, with one ocean-front land parcel going for S$1,039 per square foot.
This is more than double the top price of S$500 per square foot for a similar site in the northern precinct sold privately last year.
The 12 land parcels were part of the inaugural South Cove Collection.
Eight of the 12 successful bidders were Singaporeans; the rest came from Malaysia, Indonesia, India and Myanmar.
The auction attracted a crowd of about 400 and bidding was said to be fierce.
Sentosa Cove's gated Southern Residential Precinct will offer 156 bungalow land parcels and four condominium land parcels.
They will yield a total of 972 homes or more than a third of Sentosa Cove's 2,500 homes. - CNA /ct
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