6 bids for tender at Farrer Drive residential site

The Urban Redevelopment Authority (URA) closed the tender for the residential site at Farrer Drive today.

The site at Farrer Drive was launched for sale by public tender on 24 May 2012. It was originally on the Reserve List of the Government Land Sales Programme. URA had, on 11 May 2012, accepted a successful application for the site to be put up for sale. The site was offered for sale on a 99-year lease.

With a site area of about 0.63 ha, the residential site will have a maximum permissible gross floor area (GFA) of 10,030 sqm.

A total of 6 bids were received. The highest bid is by Singland Development Pte. Ltd. at S$113.2m. The next highest is by Far East Soho Pte. Ltd. at S$102.78m.

A decision on the award of the tender will be made after the bids have been evaluated. This will be publicised at a later date.

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