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URA opens tender for former Zouk site at Jiak Kim Street until noon of Dec 5
THE Urban Redevelopment Authority (URA) has launched a public tender for the site formerly occupied by popular nightspot Zouk with a reserve price of S$689.35 million.
The tender for the 13,481.7 square metre (sq m) 99-year leasehold site will close at noon on Dec 5, and any tender below the reserve price will not be considered, the URA said.
The tender was triggered by an application from a developer for the site, which is zoned for residential use with a first-storey commercial use, at the reserve price.
The site carries a maximum gross floor area of 51,231 sq m, and can reach a maximum height of 36 storeys subjected to a technical height control of 153 metres above the mean sea level.
With this development, an estimated 525 housing units with a lease period of 99 years is expected to be put up for sale.