The Urban Redevelopment Authority (URA) has awarded the tenders for the sites at Chong Kuo Road, Handy Road and West Coast Vale to Lian Soon Holdings Pte. Ltd. and OKP Land Pte Ltd, CDL Regulus Pte. Ltd. and CDL Pegasus Pte. Ltd. respectively. The companies submitted the highest bids in the tenders for the three sites.
The sites at Chong Kuo Road, Handy Road and West Coast Vale were launched for tender on 31 October 2017, 30 November 2017 and 19 December 2017 respectively. The tenders for these sites closed on 30 January 2018. The land parcels were offered for sale on 99-year lease terms. Details of the awarded land parcels and the successful tenderers are provided below:
LOCATION
ALLOWABLE DEVELOPMENT
SITE AREA
MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA)
SUCCESSFUL TENDERER
TENDERED PRICE
($PSM of GFA)
Chong Kuo Road
Residential
4,282.9 m2
5,997 m2
Lian Soon Holdings Pte. Ltd. and OKP Land Pte Ltd
$43,948,000
($7,328.33)
Handy Road
4,796.2 m2
11,446 m2
CDL Regulus Pte. Ltd.
$212,200,000
($18,539.23)
West Coast Vale
19,591.5 m2
54,857 m2
CDL Pegasus Pte. Ltd.
$472,400,000
($8,611.48)