THE Urban Redevelopment Authority (URA) yesterday said that it has awarded the tender for a hotel site in New Bridge Road to Leedon Investments. The company was top bidder in a state tender for the 99-year leasehold plot that closed last week. Its bid of about $67.7 million works out to almost $401 per square foot (psf) of potential gross floor area. Leedon Investments is part of Hong Kong’s Far East Consortium International group, which is not related to Singapore property giant Far East Organization.
Source : Business Times – 8 Sep 2009
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