24 May '17, 4am

Stirling Road site secured by consortium for S$1bil

The tender exercise for the land parcel near Queenstown MRT station closed on 18 May 2017 with a winning bid of S$1,050.70 psf. The Urban Redevelopment Authority (URA) revealed on Tuesday (23 May) that the tender for the residential site at Stirling Road has been awarded to a consortium which submitted the highest of bid of slightly over S$1 billion or S$11,309.72 psm (1,050.70 psf). The winning consortium consisted of Logan Property (Singapore) Company Pte Ltd and Nanshan Group Singapore Co. Pte. Ltd. Offered on a 99-year lease term, the land parcel near Queenstown MRT station was launched for public tender on 20 April, and the exercise closed on 18 May 2017. TODAYonline reported that this is the first time that a site solely dedicated for residential units under the Government Land Sales (GLS) programme has surpassed the S$1 billion mark. In total, the tender attracted 1...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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@TinkerSec @geofurb Just roll your own, bro.

@TinkerSec @geofurb Just roll your own, bro.

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The top bid of just over $1 billion for the Stirling Road site translates to a land price of about $1,050 psf. (Photo: URA...