URA awards tender for Flora Drive site to Frasers Centrepoint

The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Flora Drive to Frasers Centrepoint.

The developer submitted the highest bid of nearly S$131.4 million, which translates to about S$3,499 per square metre.

Potentially yielding an estimated 380 housing units, the land parcel is located in a Pasir Ris residential estate.

The plot has a site area of about 26,800 square metres and a maximum gross floor area of more than 37,500 square metres.

The tender for the residential site was launched on April 26 and closed on June 16.

The land parcel was offered for sale on a 99-year lease.

Source : Channel NewsAsia – 17 Jun 2011

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