URA awards tender for Clementi Avenue 1, Pine Grove Parcel B, and Lorong 1 Toa Payoh

The tendered price for each site were $633.45m, $692.4m, and $968m, respectively.

The Urban Redevelopment Authority (URA) has awarded the tenders for the Clementi Avenue 1, Pine Grove Parcel B, and Lorong 1 Toa Payoh sites.

The successful bidders of each site were CSC Land Group (Singapore) and Caspian Residential 3 for Clementi Avenue 1;  Golden Ray Edge 3 for Pine Grove Parcel B; and CDL Constellation, Frasers Property Phoenix, and Sekisui House for Lorong 1 Toa Payoh.

The tendered price for each site were $633.45m or $13,455 per square metre of the gross floor area (PSM of GFA), $692.4m ($13,167.33 PSM of GFA), and $968m ($14,639.83 PSM of GFA), respectively.

URA launched the public tender for Clementi Avenue 1, Pine Grove (Parcel B)  on 15 August, whilst Lorong 1 Toa Payoh was launched for tender on 5 September.

Clementi Avenue 1 received six bids, whilst Pine Grove (Parcel B)  and Lorong 1 Toa Payoh received three each at closing.

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