Little-known Chinese-owned firm wins tender for Hillview condo site

It is not too well-known, but Kingsford Development - owned by three Chinese nationals - has won the tender for a high-rise condominium site in Hillview Avenue.

It submitted the winning bid of $243.2 million for the 12,648.5 sqm site site. This translates to $6,867 per sqm per gross floor area (GFA) for the site, which has a GFA of 35,416 sqm.

Its bid for the 99-year leasehold site is 16 per cent higher than the second-highest bidder, Flamegold, a unit of UOL Group, which submitted a bid of $204 million.

Kingsford Development is owned by Cui Shaoyu, Cui Zhengfeng and Gao Xiuhua.

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