The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the residential site at Lorong Lew Lian for sale by public tender.
The land parcel was available for sale on the Reserve List. URA received an application from a developer for the site to be put up for public tender. The developer committed to bid at a price of not less than $250,000,000 in the tender for the land parcel. As the minimum price committed by the developer is acceptable to the Government, the site will be released for sale by public tender.
In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released. URA will launch the public tender for the site next month. The launch date will be announced later. The tender period for the land parcel will be about four to six weeks.
Details of the land parcel
With a land area of about 1.4 ha, the residential site will have a maximum permissible gross floor area of 42,005 m2.