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Award of Tender for URA Sites at Canberra Drive (Parcels A & B)

  Published: 09 March 2020

The Urban Redevelopment Authority (URA) has awarded the tenders for the sites at Canberra Drive (Parcels A & B) to Oasis Development Pte. Ltd. and United Venture Development (2020) Pte. Ltd. respectively.

The companies submitted the highest bids in the tenders for the two sites.

The sites at Canberra Drive (Parcel A & B) were launched for tender on 28 November 2019. The tenders for these sites closed on 3 March 2020.  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)

Canberra Drive

(Parcel A)

Residential

13,315.3 m2

18,642 m2

Oasis Development Pte. Ltd.

$129,196,000

($6,930.37)

Canberra Drive

(Parcel B)

 

27,566.1 m2

38,593 m2

United Venture Development (2020) Pte. Ltd.

$270,200,000

($7,001.27)


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