Rio Casa winning bid shows developers hungry for land

SINGAPORE (May 26): The thirst for land is now spreading into the en-bloc market, says DBS Vickers, with a consortium Oxley-Lian Beng Venture putting in the $575 million winning bid for Rio Casa.

(See also: Oxley-Lian Beng-KSH consortium wins Rio Casa tender at $575 mil)

Rio Casa is a privatised HUDC estate with a site area of 36,811.1 sqm with a potential built-up plot ratio of 2.8x. The winning bid was way above the $450 million that the owners were reportedly asking for.

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