Parkway Hldgs puts in top bid for site at Novena Terrace/Irrawaddy Rd

Parkway Holdings has put in a top bid to buy land to develop a new hospital at the junction of Novena Terrace and Irrawaddy Road.

It has offered S$1.25 billion for the site, which is double its nearest rival and five times more than the third-placed bidder.

Parkway’s bid works out at around $185,000 per square foot of gross floor area.

This is the first private hospital site made available by the government in 30 years.

The land can be developed into a 500-bed hospital with a maximum floor area of over 72,000 square metres. – CNA /ls

Source : Channel NewsAsia – 15 Feb 2008

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