Hotel site tender at Jurong Town Hall Road attracts 11 bids

The tender for a hotel site at Jurong Town Hall Road has attracted 11 bids.

According to the Urban Redevelopment Authority (URA), the top bid was submitted by Tamerton Pte Ltd, a subsidiary of Genting Singapore.

The firm had put in a bid of S$238.2 million, which translates to S$12,565.28 per square metre of gross floor area.

The other ten bids lodged range from S$204.8 million to S$128.7 million.

Several hotel players such as Far East Organization, United Engineers, Roxy-Pacific and Amara also put in bids for the tender.

The 99-year leasehold site near Jurong East MRT station has a potential gross floor area of about 19,000 square metres. It was launched for public tender on 19 September.

The plot has been earmarked for a distinctive hotel development with a garden setting which will help to anchor Jurong Lake District as a unique lakeside destination for business and leisure.

URA said it would decide on the winning bidder at a later date.

Source : Channel NewsAsia – 20 Nov 2012

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