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Update: URA awards tender for Paya Lebar Rd/Sims Ave commercial site to 3 companies
The Urban Redevelopment Authority (URA) has awarded the tender for the commercial site at Paya Lebar Road/Sims Avenue to Roma Central, Milano Central, and Verona Central.
The companies submitted the highest bid of S$1.67 billion.
With the maximum gross floor area of 164,769 square metres, the tendered price works out to S$10,145.65 per square metre.
The tender for the commercial site was launched on Oct 28, 2014, and closed on March 31, 2015.
The land parcel - comprising a site area of four plots - was offered for sale on a 99-year lease term.