Developer Commits To Bidding At Least S$7.8m For Jln Sultan Site

Source : Channel NewsAsia, 23 October 2007

A developer has committed to bidding at least S$7.8 million for a commercial site at Jalan Sultan.

The site, which sits on an area of 0.14 hectare, could be re-developed for hotel or office use.

The parcel currently houses 17 units of two-storey conservation buildings, which have to be restored and reconstructed by the successful tenderer.

The Urban Redevelopment Authority (URA) said the sale of the site will facilitate the early restoration of the conserved shophouses in the area and add vibrancy to the Kampong Glam Historic District.

The parcel was made available under the reserve list system, where it is released if a developer agrees to a minimum bid that is acceptable to the government.

URA will launch the public tender for the site in about two weeks. - CNA/ms