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RESIDENTIAL PROPERTY | Staff Reporter, Singapore

URA signs off on tender for New Upper Changi Road site

The residential site spans an area of 24,394 sqm.

The Urban Redevelopment Authority (URA) has launched the residential site at New Upper Changi Road/Bedok South Avenue 3 for sale by public tender.

According to URA’s announcement, the site spans an area of 24,394 sqm, and has a maximum permissible gross floor area of 51,228 sqm. It can potentially yield about 570 residential units.

URA stated that the site was available for sale on the Reserve List of the 2nd Half 2015 Government Land Sales Programme. It’s lease period is 99 years.

“On 7 January 2016, URA announced that it received an application from a developer for the site to be put up for public tender. The developer committed to a bid price of not less than $320,000,000 in the tender for the site,” stated URA.

The tender for the land parcel will close at 12 noon on 23 February 2016. The URA noted that tenders below the $320m bid price will not be considered.

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