Tender closing for residential site at Boon Lay Way (Jurong Gateway)

The Urban Redevelopment Authority (URA) closed the tender for the residential site at Boon Lay Way (Jurong Gateway) today after receiving 12 tenders for the land.

The site at Boon Lay Way (Jurong Gateway) was launched for sale by public tender on 30 April 2012. It was originally on the Reserve List of the Government Land Sales Programme. URA had, on 16 April 2012, accepted a successful application for the site to be put up for sale.

The 11,588 m2 site was offered for sale on a 99-year lease. The maximum permissible GFA is 48,670 m2.

The highest tender is by MCL Land Limited at S$369.388 million (S$7,589.64 per square meter of GFA). The next highest was by EL Development Pte Ltd at $369.1 million.

A decision on the award of the tender will be made after the bids have been evaluated. This will be publicised at a later date.

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