Keong Hong / Master Contract Services - A 99-year leasehold site along East Coast Road housing the former Joo Chiat police station is believed to have drawn a new record bid for a Government Land Sales (GLS) hotel site, the Business Times daily reported. A consortium comprising Master Contract Services and Keong Hong Construction placed the highest offer out of eight bidders of S$352.8 million ($275.95 million) or S$1,326.11 per square foot per plot ratio (psf ppr) in the tender that closed on Tuesday.
(http://link.reuters.com/wuz26v)
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