Property developer UOL Group submitted the top bid of three bidders for a residential site at Simei Street 4, said the Urban Redevelopment Authority (URA), who closed the tender for the site.UOL Group, together with Peak Century, jointly made the top bid at $236.05 million for the 32,210.5-sq-m site. This works out to $296 psf per plot ratio, said Mr Li Hiaw Ho, executive director of CBRE Research. The site was offered for sale on Dec 5 last year on a 99-year lease.
URA said it will decide on the winning bidder “at a later date”.
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