Award of tender for hotel or commercial & residential site at Victoria Street / Jalan Sultan

The Urban Redevelopment Authority (URA) has awarded the tender for the hotel or commercial & residential site at Victoria Street / Jalan Sultan to Forward Land Pte Ltd. The company submitted the highest bid in the tender for the site at S$331.37 million.

Based on maximum gross floor area GFA of 30,977 square metres, the bid works out to S$10,696.19 per square metre of gross floor area.

Tender for the hotel or commercial & residential site was launched on 16 August 2012 and closed on 11 October 2012. The land parcel was offered for sale on a 99-year lease term.

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