URA To Launch The Tender For The Reserve Site At Jalan Sultan In Two Weeks' Time

Source : Urban Redevelopment Authority (URA) News Release, 23 October 2007

The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the commercial site at Jalan Sultan for public tender.

The Land Parcel at Jalan Sultan was made available for sale through the reserve list system on 25 September 2007 (http://www.ura.gov.sg/pr/text/2007/pr07-101.html). Under the government's reserve list system, the government will put up a reserve site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of 5% of the bid price, to bid for the site at or above a minimum price which is acceptable to the government.

URA has received an application from a developer who has committed to bid for the Jalan Sultan site at a price of not less than $7.8 million for the site. In accordance with the procedures of the reserve list system, URA is making public this minimum price. However, the identity of the applicant will not be released.

URA will launch the public tender for the site at Jalan Sultan in about two weeks’ time. The launch date will be announced later and a tender period of about 12 weeks will be allowed for this site.


Sale site at Jalan Sultan

The sale site at Jalan Sultan has a site area of 0.14 ha and consists of 17 units of existing two-storey conservation buildings to be restored. The successful tenderer is required to restore and reconstruct these conservation shophouses in accordance with the Tender Conditions and Conservation Guidelines for Historic District. The sale of the Land Parcel will facilitate the early restoration of the conserved shophouses in the area and add vibrancy to Kampong Glam Historic District. As the 17 units of shophouses are sold as a single Land Parcel, it is very suitable for any investor who wants to develop the shophouses for hotel or office use.

The details of the site are at Annex A-1 and the location plan at Annex A-2. More details of the site are available on URA website at http://www.ura.gov.sg/sales/KgGlamSep07/KgGlamSep07-main.html.

Details of the launch of the tender will be announced later.

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For media enquiries, please contact:

Ms Serene Tng
Manager, Public Relations
DID: 6329 3224
Email:serene_tng@ura.gov.sg