GuocoLand JV clinches Upper Thomson Road Parcel B tender

The URA accepted the JV's bid price of $779.6m.

The joint venture (JV) of GuocoLand Singapore (GLS) and Intrepid Investments (Intrepid) clinched the tender for the Upper Thomson Road (Parcel B) site.

Guocoland Singapore’s parent company, Guocoland Limited (GuocoLand), announced that the Urban Redevelopment Authority (URA) accepted the JV’s bid price of $779.6m.

READ

Based on a bourse filing from GuocoLand, GLS holds 60% interest in the land parcel, whilst Intrepid holds 40%.

The Upper Thomson Road (Parcel B) or Land Parcel 975, is a residential site with a 99-year tenure and can potentially yield about 940 residential units. The site's area spans 32,023.7 square metres (sqm).

The site is close to Springleaf MRT Station on the Thomson-East Coast Line (TEL) and well connected to major expressways and roads such as the Seletar Expressway (SLE), Sembawang Road and Upper Thomson Road.

RELATED: Single bids for Zion and Upper Thomson sites reflect new norm in the residential market