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Tenders for sites on Cuscaden Road, Mattar Road and Silat Avenue go to highest bidders

THE Urban Redevelopment Authority of Singapore (URA) on Thursday announced that the tenders for the sites at Cuscaden Road, Mattar Road and Silat Avenue have been gone to the highest bidders - or in the case of Silat Avenue, the sole bidder.

The site at Cuscaden Road, a 5,722.5 square metre residential development, was awarded to Amberden Pte Ltd, FEC Properties Pte Ltd and Orchard Square Pte Ltd. The tendered price is some S$409.99 million, setting a new record for government land sale sites of S$25,588.22 per square metre (PSM) of gross floor area (GFA).

The site on Mattar Road, a 6,230.2 sq m residential development, has gone to FSKH Development Pte Ltd, at a tendered price of S$223 million. The PSM of GFA is S$11,931.89.

The site on Silat Avenue, a 22,851.6 sq m part-residential and part-residential with commercial-at-first-storey development, was awarded to UOL Venture Investments Pte Ltd, UIC Homes Pte Ltd and Kheng Leong Company (Private) Limited. The consortium submitted the sole bid of S$1.035 billion, which works out to PSM of GFA of S$12,244.68, for the huge site which can yield 1,125 units .

The tender for the site on Cuscaden Road was launched on Feb 27, 2018, while that for the sites on Mattar Road and Silat Avenue were launched on March 16, 2018. All three tenders closed on April 26, 2018. The land parcels were offered for sale on 99-year lease terms.

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