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Frasers Centrepoint wins S$238m bid for Sinaran Drive site
By Loh Kim Chin, Channel NewsAsia | Posted: 25 July 2006 1945 hrs

Developer Frasers Centrepoint has won the tender for a residential site at Sinaran Drive.

The company had submitted the highest bid of S$238 million for the 99-year leasehold site located near the Novena MRT station.

This translates to some S$506 per square foot.

The site had attracted three other bids ranging from S$175 million to S$202 million.

The 134,209 square foot site has a gross plot ratio of 3.5 times.

This means the 1.3 hectare site has a maximum gross floor area of nearly 470,000 square feet.

Frasers Centrepoint is said to be interested in including serviced residences in the development. - CNA/ch