THE Urban Redevelopment Authority (URA) will launch for public tender a plum site along Central Boulevard in the Marina Bay area after an unnamed party made a successful application for the site's release. The white site is on the Reserve List of the Government Land Sales programme for H2 2016.
The developer has committed to bid at a price of at least S$1.536 billion at tender; this works out to S$1,010 per square foot per plot ratio.
"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 announce the launch of the public tender for the site later this month. The tender period for the land parcel will be about ten weeks," URA said on Friday.
With a land area of about 1.1 ha, the site will have a maximum permissible gross floor area of 141,294 square metres of which at least 100,000 square metres is for office use.