The public tender for a white site located at the junction of Peck Seah Street and Choon Guan Street closed on Tuesday, drawing a total of six valid bids.
The highest bid came from a joint bid between Perfect Eagle, Guston and Belmeth at about $1.708 billion, followed by a joint bid between RQ Hotel Management and RQ Commercial Management at around $1.528 billion.
The third highest bid came from joint bidders Emerald Star, FC Retail Trustee and FC Hotel Trustee at about $1.433 billion.
Other bidders were CL Pinnacle Development, Multi Wealth (Singapore) and Beach Development, with the latter offering the lowest bid of about $615 million.
Meanwhile, a bid from Wee Jong Dit has been disqualified.
The 99-year leasehold site was launched for public tender on July 30. It has a total site area of 15,022.6 sq m and a maximum permissible gross floor area (GFA) of 157,738.00 sq m.
The URA said a decision on the tender award will be announced after the bids have been evaluated.