Reflecting the buoyant state of the property market, the residential site at Choa Chu Kang Road and Woodlands Road drew a winning bid of $164 million from Far East Organisation’s Dollar Land Singapore.

Two years ago, the site drew a bid of $61 million and failed to sell.

The second highest bid of $148.28 million came from CEL Development. Sim Lian Land put in the third highest bid of $138.89 million.

The Urban Redevelopment Authority closed the tender on 23 Februay 2010.