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Award of Tender for Hotel Site at Club Street and Residential Site at Kampong Java Road

  Published: 21 January 2019

The Urban Redevelopment Authority (URA) has awarded the tenders for the sites at Club Street and Kampong Java Road to Midtown Development Pte Ltd and CELH Development Pte. Ltd. respectively. The 2 companies submitted the highest bids in the tenders for the 2 sites.

The sites at Club Street and Kampong Java Road were launched for tender on 27 September 2018 and 31 October 2018 respectively. The tenders for these sites closed on 15 January 2019. 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)

Club Street

Hotel

5,121.4 m2

24,310 m2

Midtown Development Pte Ltd

$562,200,000

($23,126.29)

Kampong Java Road

Residential

11,643.2 m2

32,601 m2

CELH Development Pte. Ltd.

$418,380,000

($12,833.35)

 

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