Award of tender for residential site at Pheng Geck Avenue

The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Pheng Geck Avenue to Santarli Corporation Pte Ltd. The company submitted the highest bid of S$114.8 million for the 4,850 square metre site.

The site has a maximum permissible gross floor area of 16,977 square metres. This translates the top bid to about S$6,762 per square metre, or S$628.23 per square foot per plot ratio.

The other bids for this site ranged between S$113.75 million and S$92.5 million.

The residential site was launched for sale by public tender on 15 May 2012 and closed on 28 June 2012. The land parcel was offered for sale on a 99-year lease term.

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