This is the former Tan Chong Industrial Park. CDL bought this land parcel for $126.3mil in April 2022.
Given the plot ratio 2.1, the maximum gross floor area is 375,685 sqft.
Which translate the bare land cost is $336psf only.
However, the developer still has to pay for the development charges and top up lease.
Looking at the selling price achieved by the nearby new launch, Botany at Dairy Farm at $2,070psf. I think CDL may launch this project below $2,000psf.