Far East Organisation has placed the top bid of $119.08 million or about $376 per square foot per plot ratio for a residential and commercial site at the corner of Yio Chu Kang and Seletar roads.
The tender attracted a total of 12 bidders, including Centurion RE, Frasers Centrepoint, Soilbuild Group, Sim Lian, GuocoLand and Teambuild.
NEWS RELEASE BY URBAN REDEVELOPMENT AUTHORITY
TENDER CLOSING FOR COMMERCIAL & RESIDENTIAL SITE AT YIO CHU KANG ROAD / SELETAR ROAD
1 The Urban Redevelopment Authority (URA) closed the tender for the commercial and residential site at Yio Chu Kang Road / Seletar Road today.
2 The site at Yio Chu Kang Road / Seletar Road was launched for public tender on 20 August 2009. It was originally on the Reserve List of the Government Land Sales Programme. URA had, on 7 August 2009, accepted a successful application for the site to be put up for sale. The site was offered for sale on a 99-year lease.
3 Please see Annex A for the particulars of the site and the details of the bids received.
4 This is not an announcement of tender award. A decision on the award of the tender will be made after the bids submitted have been evaluated. This will be publicised at a later date.
Source : Business Times – 17 Sep 2009
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