News: URA awards tender for three sites

Sep 13, 2019

The tenders for three sites at Tan Quee Lan Street, Bernam Street and one-north Gateway have been awarded to the highest bidders, revealed the Urban Redevelopment Authority on Thursday.

The 11,530.8 sq m site at Tan Quee Lan Street was awarded to a consortium comprising GuocoLand, Intrepid Investments and Hong Realty at a tendered price of $800.19 million.

The 3,846.2 sq m site at Bernam Street within the Tanjong Pagar area, on the other hand, was awarded to HY Realty, which offered $440.9 million for the site.

Finally, the 5,778.7 sq m site at one-north Gateway was awarded to TID Residential after it submitted the highest bid of $155.74 million.

All three sites come with 99-year lease terms, with the tender for Tan Quee Lan Street launched on 29 March, while the tenders for the Bernam Street and one-north Gateway sites were launched on 30 May and 27 June respectively. The tenders all closed on 5 September.

 

Tynn Tan edited this story on behalf of Victor Kang, Digital Content Specialist at PropertyGuru. To contact him about this or other stories, emailĀ victorkang@propertyguru.com.sg

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