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Singapore : URA launches tender for residential site at Farrer Drive
Publish Date : 25-May-2012
The Urban Redevelopment Authority (URA) has launched the residential site at Farrer Drive for sale by public tender on Thursday.
With a site area of about 0.63ha, the residential site will have a maximum permissible gross floor area of 10,030 sq m. It is located in a private residential area within the central region and is accessible by major arterial roads and expressways such as Farrer Road, Holland Road, Pan-Island Expressway and Ayer Rajah Expressway.
On May 11, the URA announced that it had received an application from a developer to put up the land parcel for tender. The developer has committed to bid at a price of not less than $88,888,000 for the land parcel in the public tender.
The tender for the site will close at 12pm on June 21. Selection of the successful tenderer will be based on the tendered land price only and any tender below the minimum bid price of $88,888,000 will not be considered.
