News Releases

4 November 2011

Tender for commercial site at Sims Avenue / Tanjong Katong Road - Not awarded by URA

The Urban Redevelopment Authority (URA) has rejected the only bid submitted by UOL Venture Investments Pte. Ltd. and S.L. Development Pte. Limited for the commercial site at Sims Avenue / Tanjong Katong Road as the price offered is too low.

The tender for the commercial site was launched on 26 July 2011 and closed on 18 October 2011. The land parcel was offered for sale on a 99-year lease term.

Details of the land parcel are provided below:

LOCATION	ALLOWABLE DEVELOPMENT	SITE AREA	MAXIMUM GROSS FLOOR AREA     (GFA)	TENDERED PRICE  ($)      ($PSM of GFA)
Sims Avenue / Tanjong Katong Road	Commercial	Plot 1 20,694.7 m2 Plot 2 128.3 m2 (Cross-sectional area of subterranean lot)	86,918 m2	$529,295,000   ($6,089.59)