Golden Development Pte Ltd has placed the highest bid of S$194.77 million or S$10,031 per square metre for the gross floor area of a hotel site near Amara Hotel in the Tanjong Pagar area. The Urban Redevelopment Authority (URA) said the tender for the 99-year leasehold plot at Gopeng Street/Peck Seah Street drew seven bids. The second highest bid of S$189 million for the 2,311-square metre site, with...
Singapore Hotels
The Urban Redevelopment Authority (URA) has awarded the tender for a hotel site at Robinson Road/Boon Tat Street to Royal Group Holdings. The company submitted the highest bid of S$86 million for the land parcel, which translates to about S$11,544 per square metre of gross floor area. Tender for the site was launched on November 2 last year and closed on January 5. The land parcel has a site area of...
The Urban Redevelopment Authority (URA) said it has launched the tender for a hotel site at Robertson Quay on Thursday. The land parcel was available for sale through the Reserve List system since April last year. The tender was triggered because URA has received an application from a developer for the site. The developer has committed to bid at a price of not less than S$51.5 million for the land...
Royal Group Holdings has submitted the highest bid of S$86 million for a hotel site at Robinson Road and Boon Tat Street. The Urban Redevelopment Authority closed on Wednesday, the tender for the site after receiving eight bids in total. Royal Group's bid translates to about S$11,543 per square metre. The next highest bid of S$72 million came from developer Oxley Vibes. The 1,800 square metre site is...
Singapore has seen a record number of visitors this year, and hotels have said that business is almost at pre-crisis levels in 2008. It has been a good year for Royal Plaza on Scotts, and it is not afraid to show it, with elaborate Christmas decorations at the hotel's lobby and facade. Patrick Fiat, General Manager of Royal Plaza on Scotts, said: "Occupancy and rate was very good, and we've won quite...
A hotel site at Robertson Quay will be released for sale by public tender. The Urban Redevelopment Authority (URA) said the land parcel was made available for sale through the Reserve List System in April 2010. The sale process was triggered when URA received an application from a developer to put up the land parcel for tender. The unnamed developer has committed to bid at a price of not less than...
Buyers are showing keen interest in the Lion City Hotel and Hollywood Theatre site up for sale near Paya Lebar MRT station. About 40 companies have already made enquiries said Landmark Property Advisors and Knight Frank, the marketing firms for the site. The list includes 'every major developer' in the market, Landmark director Lee Hon Kiun said yesterday. He and Knight Frank's senior manager for...
Lion City Hotel in Geylang and the adjoining Hollywood Theatre site have been put up for sale, with a price tag expected to exceed $300 million, excluding the development charge. The two plots, along with a substation site nearby, have a total gross floor area (GFA) of 507,924 sq ft. The URA has indicated that the sites can be redeveloped into a residential-cum-commercial development, with 243,805 sq ft...
Starwood Hotels and Resorts will be the first to open a hotel at Marina Bay's Asia Square, located at Singapore's newest financial district. In a release, Starwood Hotels & Resorts, which owns the Westin brand, said the hotel will be operational end 2013. The hotel, occupying over 300,000 square feet, will offer 306 rooms. The rooms will take up 15 storeys (32nd to 46th floors) of Asia Square Tower...
Paramount Hotel & Shopping Centre has been sold to Orchard Mall for S$214 million. This is the biggest collective sale in the commercial property market this year. The site comes up to nearly 102,000 square feet and has a gross plot ratio of up to 3.0 Jones Lang LaSalle, manager of the sale, said the freehold site has a potential gross floor area of up around 308,000 square feet. This works out to...