CapitaMalls Asia, CapitaMall Trust Management, the manager of CapitaMall Trust; and CapitaLand says they have won the bid for a land parcel at Jurong Gateway by the Urban Redevelopment Authority (URA).
The group had submitted the top bid of about $969 million for the site which is located next to both Jurong East MRT station (an interchange station with two major train lines) and Jurong East bus interchange.
Under the URA’s Jurong Gateway project, the precinct will feature a mix of office, retail, hotel, entertainment, food & beverage and other complementary uses. Jurong Gateway is about 2.5 times the size of Tampines Regional Centre.
The total development cost is expected to be about $1.5 billion.
Source : TheEdge – 1 Jun 2011
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