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URA tender draws 10 bids for Alexandra View site

A 99-year leasehold site next to Redhill MRT Station, located along Alexandra View, drew 10 bids at a state tender.

The highest bid by Tang Skyline Pte Ltd was for S$376.9 million or about S$9,158 per square metre per plot ratio (psm ppr).

The lowest bid, from IOI Consolidated (Singapore) Pte Ltd, was S$250 million or about S$6,075 psm ppr.

The bidding was closely-watched given the pullback in the Government Land Sales Programme and developers' desire to replenish their land bank.

The site is designated for private housing development with commercial use on the first storey.

The Urban Redevelopment Authority previously said the 0.84-hectare site can generate about 400 private homes.

This is the first confirmed list site to be launched under the Ministry of National Development's second half 2015 Government Land Sales Programme.

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