The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the residential with 1st storey commercial site at Tai Thong Crescent (Parcel C) for sale by public tender.
The land parcel was made available for sale through the Reserve List system on 15 May 2012. URA received an application from a developer for the site to be put up for public tender. The developer committed to bid at a price of not less than $154,474,200 in the tender for the land parcel. As the minimum price committed by the developer is acceptable to the Government, the site will be released for sale by public tender.
In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released. URA will launch the public tender for the site in about two weeks. The launch date will be announced later. The tender period for the land parcel will be about five weeks.
With a land area of about 0.82 ha, the residential with 1st storey commercial site is expected to generate a gross floor area of about 28,702 m2.
The land parcel is located near Potong Pasir MRT Station and is well connected to major arterial roads and expressways such as Upper Serangoon Road, Pan-Island Expressway (PIE), Central Expressway (CTE) and Kallang Paya-Lebar Expressway (KPE).
Source: URA – 2012 Jul 11