URA awards of tender for residential site at Boon Lay Way

The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Boon Lay Way (Jurong Gateway) to MCL Land Limited.

MCL Land Limited submitted the highest bid in the tender for the site 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.

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

The tender for the residential site was launched on 30 April 2012 and closed on 29 May 2012. The land parcel was offered for sale on a 99-year lease term.

COMMENTS