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Furama Tower sold for S$76m in en bloc deal
By Loh Kim Chin, Channel NewsAsia | Posted: 17 July 2006 2207 hrs

Furama Tower at Leonie Hill Road has been sold for S$76 million through an en bloc deal to Soilbuild.

The 33,800 square feet freehold site has a gross plot ratio of 2.8 and can be developed into a 36-storey high residential development.

This works out to about S$873 per square foot per plot ratio, including the estimated development charge of S$6.6 million.

The site is located near Orchard Road and is a five-minute walk away from Ngee Ann City.

It can accommodate up to 50 exclusive residential units assuming an average size of 2,000 sq ft per unit.

Development of the site and the launch is expected to start next year. - CNA/ch