The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at Clementi Avenue 1 (pictured) to Singland Homes and UOL Venture Investments, after the developers submitted the highest bid of $302.1 million, which translates to $6,620 psm.
The tender for the 99-year leasehold site measuring 140,339 sq ft closed on 9 December 2015 after attracting six bids. With a maximum permissible gross floor area of 491,190 sq ft, the land parcel could yield 460 homes.
Located in the western region of Singapore, the site is close to the National University of Singapore (NUS), Clementi Sports Hall and Jurong Lake District, which is just one station away from Clementi MRT station.
Location of the Clementi Avenue 1 site. Source: URA
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
