Award of Tender for Residential Site at Clementi Avenue 1

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Award of Tender for Residential Site at Clementi Avenue 1

Published: 09 July 2019

The Urban Redevelopment Authority (URA) has awarded the tender for the site at Clementi Avenue 1 to UOL Venture Investments Pte. Ltd. and UIC Homes Pte. Ltd. The consortium submitted the highest bid in the tender for the site.

The site at Clementi Avenue 1 was launched for tender on 28 February 2019. The tender for the site closed on 3 July 2019. The land parcel was offered for sale on 99-year lease term.

Details of the awarded land parcel and the successful tenderer are provided below:

LOCATION

ALLOWABLE DEVELOPMENT

SITE AREA

MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA)

SUCCESSFUL TENDERER

TENDERED PRICE

($PSM of GFA)

Clementi Avenue 1

Residential

16,542.7 m²

57,900 m²

UOL Venture Investments Pte. Ltd. and UIC Homes Pte. Ltd.

$491,300,000
($8,485.32)