SINGAPORE - The public tender of the prime former Zouk site at Jiak Kim Street was launched on Thursday (Oct 19) by the Urban Redevelopment Authority (URA).

The sale was triggered last month after a developer committed to bid at a price of not less than S$689.35 million for the 13,482 sq m site, which had been on the reserve list of the Government Land Sales Programme for the second half of this year.

Any bid below that price will not be considered, said URA.

The land parcel can accommodate 525 apartments in a development up to 36 storeys, with ground floor commercial use.

The tender for the 99-year leasehold site will close at noon on Dec 5.