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The Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at New Market Road / Merchant Road to Park Regis Investments Pte. Ltd. The company submitted the highest bid in the tender for the site.The tender was launched on 2 August 2007 and closed on 25 October 2007. The Land Parcel was offered for sale on a 99-year lease.
The particulars of the awarded Land Parcel and the successful tenderer are:
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Ms Serene Tng
Manager, Public Relations
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New Market Rd hotel site tender awarded
ReplyDeleteTHE Urban Redevelopment Authority (URA) has awarded the tender for the hotel site at New Market Rd/Merchant Rd to Park Regis Investments Pte Ltd, which put in the highest bid.
The land parcel was offered for sale on a 99-year lease. The site has an area of 3,508.2 square metres and a maximum permissible gross floor area (GFA) of 12,278 square metres.
The tendered price was $100,700,000 or $8,201.66 per square metre of GFA.
Source : The Business Times, October 30, 2007