Press Releases
Tender award for URA sale sites at Canberra Crescent, De Souza Avenue, Zion Road (Parcel B) and Margaret Drive
7 August 2024
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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:
Table caption
LOCATION | ALLOWABLE | SITE AREA | MAXIMUM | SUCCESSFUL TENDERER | TENDERED PRICE |
|---|---|---|---|---|---|
Canberra Crescent | Residential | 20,435.8 m² | 32,698 m² | Peak Nature Pte Ltd and Huatland Development Pte. Ltd. | $279,000,800.00 |
De Souza Avenue | Residential | 19,245.4 m² | 30,793 m² | SL Capital (8) Pte Ltd | $278,900,000.00 |
Zion Road (Parcel B) | Residential | 9,285.9 m² | 52,002 m² | Valerian Residential Pte. Ltd. | $730,088,888.00 |
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 |