This wisdom is once again proven at the public tender of an Ang Mo Kio site which drew the top bid of $202.9 million or $601 per square foot per plot ratio (psf ppr).

Despite, the US sub-prime mortgage fears that rattled stock markets here, 14 developers came out in force to try to upstage each other.

Far East Organisation outbid 13 others to gain a foothold in what many believe would be the next premier housing estate in Singapore.
 
This particular Ang Mo Kio site has a superb location being conveniently situated next to the Ang Mo Kio MRT station, and 15 minutes away from Orchard by train.

The project will be attractive to HDB upgraders from Ang Mo Kio itself and nearby estates such as Bishan, Toa Payoh, Serangoon and the private residential estates of Thomson/Upper Thomson Road areas.

Resale HDB flats at Bishan and Toa Payoh tend to command a higher cash-over-valuation component and flat owners there may consider upgrading to a condo in Ang Mo Kio as they will continue to enjoy similar amenities and the same convenience going to the Central Business District and Orchard Road. (12 September 2007)

Edited by Sam Gian – Independent real estate sale consultant