URA to launch tender for Victoria Street/Jalan Sultan site
The Urban Redevelopment Authority (URA) announced on Wednesday that it has accepted an application from a developer to put up the site at Victoria Street / Jalan Sultan for sale by public tender.
The site was put up for public tender as a developer has committed a minimum bid of $148.7 million for the 0.84ha site . The land parcel will have a maximum permissible gross floor area of 30,977 sq m.
Under the tender conditions, the successful tenderer is given the option to develop the site for a hotel or commercial and residential development.
Located near Lavender MRT station, the site is close to the historic districts of Kampong Glam and Little India.