Wednesday, November 29, 2006
[RealEdge] BT : Hong Leong clinches Mohd Sultan hotel site
| Published November 29, 2006  | |
| Hong Leong clinches Mohd Sultan hotel site THE Urban Redevelopment Authority (URA) has awarded the tender for a hotel site at Mohamed Sultan and Nanson roads to Hong Leong group's Republic Hotels & Resorts for $45.8 million or $5,578 per square metre. The tender for the 2,932 sq m leasehold site was launched on Sept 25. The Hong Leong group had put in the highest bid when the tender closed on Nov 21. Separately, URA also said yesterday that two reserve list hotel sites at Tanjong Pagar are up for application. Developers can submit a minimum bid and request that these sites be put up for tender. One is at Tanjong Pagar Road/Gopeng Street and the other at Tanjong Pagar Road/Tras Street. The 99-year leasehold sites are part of the government land sales programme for the second half of 2006. URA said yesterday that the new projects would help meet demand for hotel rooms, which is expected to increase given the Singapore Tourism Board's target of 17 million visitors by 2015. Together with existing hotels in the vicinity, developments at the new sites will help turn the area into a hotel cluster. The Tanjong Pagar Road/Gopeng Street site is about 0.24 of a hectare and has a gross plot ratio of 8.4, which translates to a maximum permissible gross floor area of 19,933 sq m. At Tanjong Pagar Road/Tras Street, the land is about 0.29 ha and has a gross plot ratio of 5.6, giving rise to a maximum permissible gross floor area of 16,047 sq m. |
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch format to Traditional
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe
__,_._,___
