The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Pasir Ris Drive 3 to Capital Development Pte. Ltd.

The company submitted the highest bid at S$211.0 million in the tender for the site. The tender attracted a total of five bids.

The residential site was launched for sale by public tender on 16 April 2012 and closed on 5 June 2012. The land parcel was offered for sale on a 99-year lease term.

The site area is of 22,317 m2 and the maximum permissible GFA is of 46,867 m2.