Fernvale Lane site awarded to Frasers Property unit for $287m

The executive condo site allows a GFA of up to 47,964 sqm.

The Housing & Development Board (HDB) has awarded a land parcel at Fernvale Lane to Frasers Property unit FCL Lodge for $286.54m, according to a press release.

The executive condo site has an area of 17,129.9 sqm, and allows a maximum gross floor area (GFA) of 47,964 sqm and a building height of up to 56 m above mean sea level (AMSL). The estimated number of housing units that can be built out of the site is 480.

It has a lease term of 99 years, and the set project completion period is 60 months from the date the tender is accepted.

HDB launched the land parcel for tender on 30 December 2019. It closed on 3 March, with Frasers Property submitting the top bid of $555 psf ppr.