The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at West Coast Link/West Coast Crescent to Boo Han Holdings.
The developer submitted the highest bid for the land parcel at nearly S$175.8 million, which works out to about S$4,958 per square metre of gross floor area.
A total of 12 bids were received for the site, starting from a low of about S$127.1 million from CEL Development. The second highest bid came from Centurion Re at S$173.9 million.
The site has an area of over 12,600 square metres, with a maximum permissible gross floor area of more than 35,400 square metres.
Tender for the site, which was offered for sale on a 99-year lease, was launched on May 5 and closed on Jun 23.
Source : Channel NewsAsia – 28 Jun 2011