Friday, May 04, 2012

URA launches tender for residential site at Boon Lay Way

A 1.2-ha residential site (pictured) at Boon Lay Way (Jurong Gateway) was launched for public tender on Monday by the Urban Redevelopment Authority (URA).

The site, which can yield around 590 housing units, has a maximum permissible GFA (gross floor area) of 48,670 sq m. Released under the reserve list on 22 December last year; it has a leasehold period of 99 years.

The URA had previously received an application from a developer to put the land up for public tender. “The developer has committed to bid at a price of not less than S$214,712,572 for the land parcel in the public tender,” it added.

The site is located in the booming Jurong Lake District, which is set to become Singapore’s largest regional hub outside the city centre with residential, retail, hotel, office, food & beverage (F&B) and entertainment components.

“Existing condominium developments nearby include Parc Oasis, Lake Shore, Caspian and The Lakefront Residences. It is well connected to major arterial roads and expressways such as Boon Lay Way, Pan Island Expressway and Ayer Rajah Expressway. Within a stone’s throw away from Jurong East MRT station, it offers future residents convenient access to all parts of the island,” noted the URA.

The tender for the site will close on 29 May.

View the original article here

Source From Property Guru

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