Forward Land has been awarded the tender for a hotel or commercial and residential site (with a minimum hotel component) at Victoria Street/Jalan Sultan by the Urban Redevelopment Authority (URA).
The 8,423.2 sq m site (pictured) received a top bid of S$331.34 million from Forward Land, which works out to S$10,696.19 psm on the gross floor area (GFA).
The public tender was launched on 16 August and closed on 11 October, with a total of nine bids received for the 99-year leasehold site.
The site is centrally located near the historic districts of Kampong Glam and Little India, and is easily accessible via the nearby Lavender MRT station.
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