A residential site at Boon Lay Way will be put up for sale by public tender after an application from a developer has been accepted by the government.
The Urban Redevelopment Authority (URA) said the land parcel was made available for sale through the Reserve List system on December 22, 2011.
Under the Reserve List system, a site will only be put up for tender if the developer’s minimum bid price is acceptable to the government.
URA said the developer has committed to bid no less than S$214.7 million for the Boon Lay Way site.
The plot spans some 1.2 hectares and will have a maximum permissible gross floor area (GFA) of 48,670 square metres.
It can yield about 590 housing units.
The land parcel is located in Jurong Lake District, which is envisioned to be Singapore’s largest regional hub outside the city centre.
URA will launch the public tender for the site in about two weeks.
Source : Channel NewsAsia – 16 Apr 2012