Aerial view of the land parcel at Perumal Road. (Photo: URA)
The Urban Redevelopment Authority (URA) has awarded the tender for a residential with first storey commercial site at Perumal Road to Low Keng Huat (Singapore).
The company beat out 10 other developers with the highest bid of $174.08 million for the 0.38ha site, which was launched for sale on 29 November 2016. The price works out to about $1,000 psf on the gross floor area.
The site is within proximity to the Dhoby Ghaut Interchange, Farrer Park Hospital and City Square Mall.
Offered on a 99-year lease, the land parcel could yield up to 200 housing units.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
