Tender award for URA sale sites at Canberra Crescent, De Souza Avenue, Zion Road (Parcel B) and Margaret Drive

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Tender award for URA sale sites at Canberra Crescent, De Souza Avenue, Zion Road (Parcel B) and Margaret Drive

Published: 07 August 2024

1. The Urban Redevelopment Authority (URA) has awarded the tenders for the four sites at Canberra Crescent, De Souza Avenue, Zion Road (Parcel B) and Margaret Drive to the respective highest tenderers, namely Peak Nature Pte Ltd and Huatland Development Pte. Ltd. for the site at Canberra Crescent; SL Capital (8) Pte Ltd for the site at De Souza Avenue; Valerian Residential Pte. Ltd. for the site at Zion Road (Parcel B); and Intrepid Investments Pte. Ltd., Hong Realty (Private) Limited and GuocoLand (Singapore) Pte. Ltd. for the site at Margaret Drive.

2. The sites at Canberra Crescent and De Souza Avenue were launched for tender on 16 April 2024, while the site at Zion Road (Parcel B) and Margaret Drive were launched on 13 May 2024 and 30 May 2024 respectively. The tenders for the sites at Canberra Crescent, De Souza Avenue and Zion Road (Parcel B) closed on 18 July 2024, while the tender for the site at Margaret Drive closed on 1 August 2024. All four sites were offered for sale on 99-year lease terms.

3. Details of the four awarded sites and the respective successful tenderers are provided below:

LOCATION	ALLOWABLE DEVELOPMENT	SITE AREA	MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA)	SUCCESSFUL TENDERER	TENDERED PRICE ($PSM of GFA)
Canberra Crescent	Residential	20,435.8 m²	32,698 m²	Peak Nature Pte Ltd and Huatland Development Pte. Ltd.	$279,000,800.00 ($8,532.66)
De Souza Avenue	Residential	19,245.4 m²	30,793 m²	SL Capital (8) Pte Ltd	$278,900,000.00 ($9,057.25)
Zion Road (Parcel B)	Residential	9,285.9 m²	52,002 m²	Valerian Residential Pte. Ltd.	$730,088,888.00 ($14,039.63)
Margaret Drive	Residential	9,522.3 m²	39,994 m²	Intrepid Investments Pte. Ltd., Hong Realty (Private) Limited and GuocoLand (Singapore) Pte. Ltd.	$497,000,000.00 ($12,426.86)