Jalan Bukit Merah/Alexandra Rd site attracts 6 bids

The Urban Redevelopment Authority (URA) has closed the tender for the hotel site at Jalan Bukit Merah/Alexandra Road.

It attracted a total of six bids, with CEL Development submitting the highest bid at S$189 million.

The rest of the bids ranged between S$118 million and S$184 million.

The 99-year leasehold site, which has an area of about 0.79 ha and a maximum permissible gross floor area of 22,249 square metres, is zoned for hotel development.

The land parcel, which is located at the fringe of the city centre, was originally on the Reserve List of the Government Land Sales Programme.

It was launched for public tender on 5 October 2011, after the URA accepted an application for the site to be put up for sale on 22 September 2011.

URA said it will decide on the award of the tender after the bids have been evaluated.

Source : Channel NewsAsia – 1 Dec 2011

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