News Releases

25 June 2009

URA to launch the tender for the reserve list site at New Bridge Road in two weeks' time

The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the hotel site at New Bridge Road for public tender.

The Land Parcel was made available for sale through the Reserve List System on 19 April 2007. Under the government’s Reserve List System, the government will put up a Reserve List site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of 5% of the bid price, to bid for the site at or above the minimum price which is acceptable to the government.

URA has received an application from a developer who has committed to bid at a price of not less than $43,888,888.00 for the Land Parcel at New Bridge Road. In accordance with the procedures of the Reserve List System, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released.

URA will launch the public tender for the site in about two weeks. The launch date will be announced later. The tender period for the Land Parcel will be about eight weeks.

Land Parcel at New Bridge Road

With a site area of about 0.45 ha, the Land Parcel at New Bridge Road can generate a maximum permissible gross floor area of 15,687 sqm and is ideal for a boutique hotel development. The site is located within the Chinatown Historic District which is a popular tourist destination with many historical, cultural and architectural attractions.

The details of the Land Parcel are at Annex A-1 and the location plan at Annex A-2. More details of the Land Parcel are available on the URA website at http://www.ura.gov.sg/sales/NewBridgeRdApr07/MA/NewBR-intro(T).html

Details of the launch will be announced later.