Wednesday, October 17, 2012

Award of Tender for Hotel or Commercial & Residential Site at Victoria Street / Jalan Sultan

16 October 2012

Award of Tender for Hotel or Commercial & Residential Site
at Victoria Street / Jalan Sultan

The Urban Redevelopment Authority (URA) has awarded the tender for the hotel or commercial & residential site at Victoria Street / Jalan Sultan to Forward Land Pte Ltd.  The company submitted the highest bid in the tender for the site.

Tender for the hotel or commercial & residential site was launched on 16 August 2012 and closed on 11 October 2012. The land parcel was offered for sale on a 99-year lease term.

Details of the awarded land parcel and the successful tenderer are provided below:

MAXIMUM GROSS FLOOR AREA     (GFA)

TENDERED PRICE      
($PSM of GFA)

Victoria Street / Jalan Sultan

Hotel or Commercial & Residential    (with a minimum hotel component)

30,977 m2 (inclusive of 280 m2 for ORA use)

$331,336,000.00   ($10,696.19)


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