News: Kampong Java Road residential site attracts 7 bids

Jan 17, 2019

Location map of the land parcel at Kampong Java Road. Source: URA

The tender for a residential site at Kampong Java Road attracted seven bids, with CELH Development, a unit of Chip Eng Seng Corporation, submitting the highest bid of $418.4 million, revealed the Urban Redevelopment Authority (URA) on Tuesday (15 Jan).

GLL D, a subsidiary of GuocoLand, submitted the second highest bid of $417.2 million, followed by MCC Land (Singapore) and Greatview Investment’s offer of $407.9 million.

More: Govt Launches Three Sites Yielding 700 ECs, Over 1,300 Private Condos

Launched for sale on 31 October, the 99-year leasehold site has a land area of 11,643.2 sq m and a maximum permissible gross floor area of 32,601 sq m.

Meanwhile, the tender for a 5,121.4 sq m hotel site at Club Street attracted eight bids with Midtown Development – which is part of the Worldwide Hotels Group that includes Hotel 81 – offering the top bid of $562.2 million.

URA noted that it is “not an announcement of tender award”.

It added that a decision on the award of the tenders will be announced at a later date, after all the bids have been evaluated.

Home buyers looking for Singapore Properties may like to visit our ListingsProject Reviews and Guides.

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg

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