Artra Condo is a 99-years leasehold condo that is put out by
URA for sale under the government land sales programme under the confirmed list. Based on the land size of 442,967 and built up area of the development, analyst see a potential number of units of around 400 units. The price tag that the developer has bid for is $373.1 million and this works out to be around $842.28 psf ppr for the plot of land.
A closer look at the latest bids received show that developers were upbeat on the local property market particularly in the city fringe area around Redhill. There were a total of 10 bidders for the plot of land and due to the number of bids, this is seen as a healthy interest in the plot of land as there is confidence among the developers. This development is a mixed development and there will be shops and restaurants and other retail space on the first floor. The top 5 bids were also separated by a mere 5% margin which suggest developers are aggressive on the bids to secure the premier land for developing.