Upper Paya Lebar Road tender awarded to UOL Overseas Investments

With highest bid of $392.3m.

The Urban Redevelopment Authority (URA) announced that it has awarded the tender for the residential site at Upper Paya Lebar Road to UOL Overseas Investments Pte Ltd.

The company submitted the highest bid og $392.3m among seven bids in the tender for the residential site with a site area of 20,077.6 sqm and a maximum gross floor area (GFA) of 56,218 sqm.

With the winning bid, the tendered price amounts to $6,978.19 per sqm of GFA.

The tender for the residential site was launched on 18 November 2013 and closed on 14 January 2014.

The land parcel was offered for sale on a 99-year lease term.

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