Fragrance Assets, a unit of mainboard-listed Fragrance Group, has won the tender for a hotel site at Short Street.
It had submitted the top bid of S$15.5 million for the site.
The Urban Redevelopment Authority (URA) received a total of 15 bids, ranging from S$8 million to S$15.5 million.
Other companies that had tendered for the site include Regal Land, Centurion Properties and Sim Lian Land.
The 99-year land parcel, bordering Albert Court near Little India, covers about 12,500 square feet and borders, and can accommodate a 12-storey hotel.
This was the first site launched for tender from the government’s reserve list since it suspended sales from the confirmed list last October.
Source : Channel NewsAsia – 16 Jun 2009