Tuesday, June 06, 2006

[RealEdge] CNA : Sinaran Drive land parcel attracts minimum bid of S$173.8m

 Singapore News ยป
 Time is GMT + 8 hours
Posted: 06 June 2006 2004 hrs

Sinaran Drive land parcel attracts minimum bid of S$173.8m
By Loh Kim Chin, Channel NewsAsia

An unnamed developer has committed to bidding at least S$173.8 million for a 1.25 hectare land parcel at Sinaran Drive.

The Urban Redevelopment Authority says the 99-year leasehold site near Novena MRT station is earmarked for a residential development.

The parcel has a gross plot ratio of 3.5 times and a maximum gross floor area of nearly 44,000 square metres.

It was made available for sale through the reserve list system last October.

Under the policy, the government will put up a reserve site for tender if it receives an application from a developer who commits to bid for the site at a price which is acceptable to the government.

URA will launch the tender for the site in about two weeks. - CNA/ch

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// posted by Shajahan @ 11:33 PM


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