A residential site at Stirling Road has been triggered for sale by public tender after a developer committed to bid at no less than S$685.25 million, said the Urban Redevelopment Authority (URA)
PUBLISHED Monday, April 10, 2017
A RESIDENTIAL site at Stirling Road has been activated available for sales by public tender after a developer offer bid at no under S$685.25 million, the Urban Redevelopment Authority (URA) said on Monday.
The site, which is strolling distance to Queenstown MRT station, is required to yield 1,110 units. It is under the Reserve List of the Government Land Sales program, which implies that it is triggered for tender only when an interested party submits an application with a minimum price that is acceptable to the government.
The 2.11-ha land parcel was first made available the Reserve List in March 2010.
The minimum price of S$685.25 million convert into S$718 per square foot per plot ratio on the site’s maximum gross floor area of 88,660 square metres.
URA said it will launch the public tender for the site in around two weeks. The launch date will be reported later. The tender period for the land parcel will be around four weeks.
Other nearby development with positive sales include, Commonwealth Tower, Queens Peak, Alex Residences, The Crest and Principal Garden by UOL located at Prince Charles Crescent.
Source: http://www.businesstimes.com.sg/real-estate/residential-site-at-stirling-road-triggered-for-tender?xtor=CS3-24
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