The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the commercial site at Beach Road for sale by public tender.
The land parcel was first made available for sale on the Reserve List in November 2014. URA received an application from a developer for the site to be put up for public tender. The developer committed to bid at a price of not less than $1,138,000,000 in the tender for the land parcel. As the minimum price committed by the developer is acceptable to the Government, the site will be released for sale by public tender.
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 tender period for the land parcel will be about twelve weeks.
With a land area of about 2 ha, the commercial site at Beach Road will have a maximum permissible gross floor area of 88,313 sqm, of which at least 61,820 sqm is for office use.
Details of the land parcel and its location plan are provided in Annex 1 [PDF, 236kb] and Annex 2 [PDF, 22kb]. More details on the land parcel are available on the URA website at http://www.ura.gov.sg/uol/land-sales-repository/sites-available/beach-rd-ma.aspx.