Thursday, September 28, 2006

[RealEdge] CNA : Developers invited to apply to put hotel site up for tender

Singapore News
 
 

Developers invited to apply to put hotel site up for tender
By Loh Kim Chin, Channel NewsAsia | Posted: 27 September 2006 2040 hrs

 
 
   
 

SINGAPORE : The Urban Redevelopment Authority is inviting developers to apply to put a reserve site at New Market Road / Merchant Road up for tender.

This is the fourth of six hotel sites that URA plans to sell this year.

The 3,500 square metre site located behind the Ministry of Manpower is earmarked for a hotel development of 7 storeys.

The 99-year leasehold site has a gross plot ratio of 3.5 times to yield a maximum gross floor area of nearly 12,300 square metres.

Under the government's land sales system, a site on the Reserve List will only be put up for tender if it receives a minimum bid price that is acceptable to the government. - CNA/ms

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// posted by Shajahan @ 11:01 AM


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