The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Farrer Drive to Singland Development Pte. Ltd.
The company submitted the highest bid in the tender for the site at S$113.2m with the tender attracting a total of 6 bids.
The tender for the residential site was launched on 24 May 2012 and closed on 21 June 2012. The land parcel was offered for sale on a 99-year lease term.
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.