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The Urban Redevelopment Authority says it will launch the tender for a residential site at Alexandra Road in about two weeks. The move comes after receiving a commitment from a developer to bid at least S$220.7 million for the site.
The 99-year leasehold site near Redhill MRT Station sits on 8,600 square metres.
It has a maximum gross floor area of 42,000 square metres.
The site was placed for sale in August under the Reserve List of the Government's Land Sales Programme.
Under the reserve list system, the government will put up a reserve site for public tender if it receives a commitment from a developer to bid for the site above a minimum price that is acceptable. - CNA/ch
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