The Urban Redevelopment Authority (URA) is planning to launch a residential site at Boon Lay Way (pictured) for sale, after a developer committed to bid a minimum of S$214.7 million.
“As the minimum price committed by the developer is acceptable to the government, the site will be released for sale by public tender,” said the URA.
Made available for sale through the government’s reserve list system on 22 December 2011, the site has a total area of 11,588 sq m and a maximum gross floor area (GFA) of 48,670 sq m with a leasehold period of 99 years.
The land parcel is located in the Jurong Lake District, which is slated to be the largest regional hub outside the city centre, with a mix of residential, hotel, office, entertainment, retail and food & beverage (F&B) options, amongst others.
The URA said it will launch the site tender in two weeks.
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