The URA has announced that the public tender for the Petir Road site has attracted a total of nine bids, with Wincheer Investment Ltd offering a top bid of $177.4 million.
This translates to around $3,714.09 psm per gross floor area (GFA).
The second highest bid came from Sim Lian Land Ltd at $173.8 million, or approximately $3,638.80 psm per GFA, followed by a joint bid between F.E. Lakeside Ltd & FCL Topaz Ltd at approximately $170 million, while the lowest bid came from Teambuild Land Ltd, offering $103 million or around $2,156 psm per GFA.
The 99-year leasehold site at Petir Road is zoned for residential development, which could potentially yield up to 430 housing units. It has a total site area of 22,744.10 sq m and has a maximum permissible GFA of 47,763 sq m.
The land site is situated in Singapore’s west region, near the upcoming Hillview and Cashew Mass Rapid Transit (MRT) Stations. It is connected to major precincts in the city centre including Marina Bay, Chinatown and Bugis.
The URA said it will still evaluate the tender result and awarding for the site will be publicised at a later date.