URA awards S$250m tender to redevelop Capitol Building

The Urban Redevelopment Authority (URA) on Wednesday awarded a S$250 million tender to redevelop the 1.43 hectare land parcel at the junction of Stamford Road and North Bridge Road.

The winning bid came from Capitol Retail Management, Capitol Hotel Management and Capitol Residential Development.

The consortium’s concept for the area envisages a mix of hotel, retail, entertainment and residential uses.

The plan comprises a new 15-storey building that will have prime residential apartments on top of four floors of retail and F&B.

Capitol Building and Stamford House will be restored into a new, luxury hotel.

Capitol Theatre, meanwhile, will be converted into a unique theatre that will screen movies as well as host live performances.

Theatre groups will be given in-residence status to stage performances for part of the year.

For the remaining part of the year, the theatre will be used by the Golden Village for red carpet events.

The consortium beat two other contenders in the second stage of the tender process.

Source : Channel NewsAsia – 27 Oct 2010

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