Tenders for three sites go to highest bidders

Two residential sites - in Cuscaden Road and Mattar Road - have been sold to firms that lodged the highest tenders while one in Silat Avenue was awarded to the sole bidder, the Urban Redevelopment Authority said yesterday.

A 5,722.5 sq m plot in Cuscaden Road went to Amberden, FEC Properties and Orchard Square. Their bid of $409.99 million set a record price for Government Land Sale sites of $25,588.22 per sq m of gross floor area.

FSKH Development landed the 6,230.2 sq m Mattar Road parcel. It tendered $223 million - of $11,931.89 per square metre of gross floor area.

The 22,851.6 sq m site in Silat Avenue - it is part-residential and part-residential-with-commercial on the first storey - was awarded to UOL Venture Investments, UIC Homes and Kheng Leong. The consortium submitted a $1.035 billion bid which works out to $12,244.68 per square metre of gross floor area for the site, which can yield 1,125 units.

The land parcels were offered for sale on 99-year lease terms.

A version of this article appeared in the print edition of The Straits Times on May 18, 2018, with the headline 'Tenders for three sites go to highest bidders'. Print Edition | Subscribe