URA awards hotel site at Jalan Bukit Merah / Alexandra Road

The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at Jalan Bukit Merah / Alexandra Road to CEL Development Pte Ltd. The company submitted the highest bid in the tender for the site at $189,000,000 ($8,494.76 per square meter of GFA).

The tender for the hotel site was launched on 5 October 2011 and closed on 1 December 2011. The land parcel was offered for sale on a 99-year lease term.

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