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  4. Tender award for URA sale sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh

Tender award for URA sale sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh

  Published: 15 November 2023

The Urban Redevelopment Authority (URA) has awarded the tenders for the sites at Clementi Avenue 1, Pine Grove (Parcel B) and Lorong 1 Toa Payoh to the highest tenderers, namely CSC Land Group (Singapore) Pte. Ltd. and Caspian Residential 3 Pte. Ltd. for the site at Clementi Avenue 1; Golden Ray Edge 3 Pte. Ltd. for the site at Pine Grove (Parcel B); and CDL Constellation Pte. Ltd., Frasers Property Phoenix Pte. Ltd. and Sekisui House, Ltd. for the site at Lorong 1 Toa Payoh. 

The sites at Clementi Avenue 1 and Pine Grove (Parcel B) were launched for tender on 15 August 2023 while the site at Lorong 1 Toa Payoh was launched on 5 September 2023. The tenders for these sites closed on 7 November 2023. The sites were offered for sale on 99-year lease terms. 

Details of the awarded sites 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) 
Clementi Avenue 1 

Residential

 13,451.1 m2  47,079 m2  CSC Land Group (Singapore) Pte. Ltd. and Caspian Residential 3 Pte. Ltd.  $633,447,945.00
($13,455.00)
 Pine Grove (Parcel B) Residential 25,039.2 m2  52,583 m2  Golden Ray Edge 3 Pte. Ltd. $692,388,000.00
($13,167.53) 
 Lorong 1 Toa Payoh  Residential 15,743.0 m2  66,121 m2  CDL Constellation Pte. Ltd., Frasers Property Phoenix Pte. Ltd. and Sekisui House, Ltd.

 $968,000,000.00
($14,639.83)
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