The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Jalan Jurong Kechil to World Class Developments (North) Pte Ltd. The company submitted the highest bid in the tender for the site.
Tender for the residential site was launched on 19 September 2012 and closed on 15 November 2012. The site was offered for sale with a lease option of 30 years, 45 years or 60 years.
A total of 23 bids were received at the close of tender. World Class Developments (North) Pte Ltd – a subsidiary of SGX-listed firm Aspial Corporation – was the highest bidder for the land parcel for S$73.8 million, or S$481.51 per square foot per plot ratio (psf ppr), for a lease of 60 years.
The site has an estimated gross floor area of 14,239 square metres.