MCC Land wins Yishun EC site tender
- Tuesday, April 6, 2010, 13:29
- Singapore
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The Housing and Development Board (HDB) awarded the tender for the 99-year leasehold site at Yishun Avenue 3 to MCC Land (Singapore) Pte Ltd today at the tender price of $127,800,000.
The 15,074.2 sq m land parcel with a maximum gross floor area of 42,207.76 sq m is targeted for an executive housing development.
This will be MCC Land’s first Singapore property development. The company is part of Chinese state- owned enterprise Metallurgical Corporation of China (MCC Group).
In an interview with The Business Times, MCC Land managing director Tan Zhiyong said the group’s proposed scheme for the EC site is an eco-friendly project with over 400 units comprising two, three and four-bedroom apartments. It is targeted to launch this year.
He also told the paper: ‘We will keep it affordable, given the buying eligibility criteria for exec condos of a maximum $10,000 monthly household income.’
MCC Group, which is a Fortune 500 company listed in both Shanghai and Hong Kong, is involved in engineering, procurement and construction, mining, paper-making, equipment fabrication and property development.
