MCL Land tops competitive tender for Jurong West residential site

SINGAPORE - The Urban Redevelopment Authority (URA) has closed the tender for the residential site at Jurong West Street 41 (Parcel B) today.

The 17,803.5 square metre site, which was offered on a 99-year lease, attracted a total of nine bidders.

MCL Land (Vantage) offered the top price with $338.1 million.

The site, launched for public tender on Dec 5 last year, is expected to yield a maximum permissible ground floor area of 49,850 sq m when completed.

A decision on the award of the tender will be announced at a later date, after the bids have been evaluated.