A land parcel at Victoria Street/Jalan Sultan (pictured) slated for hotel or commercial and residential use (with a minimum hotel component), received a total of nine bids when the public tender closed yesterday, according to the Urban Redevelopment Authority (URA).
The top bid of S$331.33 million was submitted by Forward Land, which translates to S$10,696.19 psm on the gross floor area (GFA).
Launched on 16 August, the 99-year leasehold site measures 8,423.2 sq m and has a maximum GFA of 30,977 sq m. It is ideally located close to the historic districts of Kampong Glam and Little India, as well as transport links.
The second highest bid of S$303.68 million was submitted by a consortium comprising Hoi Hup Realty, Sunway Developments and Hoi Hup J.V. Development.
The URA will announce the final tender results at a later date, once all the bids have been evaluated.
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