URA opens tenders for Margaret Drive and Media Circle sites

The sites can yield 460 residential units and 530 long-stay serviced apartments, respectively.

The Urban Redevelopment Authority (URA) has initiated the tender process for two residential sites at Margaret Drive and Media Circle.

The tender for Margaret Drive will close at noon on 1 August, whilst the Media Circle tender will close at noon on 19 September.

The two sites are under the Confirmed List of the 1H24 Government Land Sales (GLS) Programme. 

According to URA, the Margaret Drive site can yield 460 residential units, whilst Media Circle can yield 520 long-stay Serviced Apartments.

The Margaret Drive site has a maximum gross floor area of 39,994 sqm, a site area of 9,522.3 sqm, and a lease period of 99 years.

Meanwhile, the Media Circle site’s maximum gross floor area and site area spans 24,211  sqm and 5,764.3  sqm, respectively. The site has a 60-year lease period.