10 Apr '17, 11pm

URA to launch tender for Queenstown reserve list site

The site at Stirling Road was triggered for sale after a developer committed to a minimum bid of $685,250,000. (Photo: URA) The Urban Redevelopment Authority (URA) announced yesterday that it accepted an application from a developer to put up a residential site at Stirling Road in Queenstown for sale by public tender. The 2.11ha site was first made available for sale on the reserve list in March 2010. According to the URA, the unnamed developer committed to a minimum bid of $685,250,000. As the price is acceptable to the government, the 99-year leasehold plot will be released for sale in about two weeks. It is expected to yield 1,110 housing units. “Interest for the site is expected to be healthy, with between eight to 10 bids mostly from the major players who may team up with other parties in view of the quantum and the large site. Developers will be keen to leverage the ...

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

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