Thursday, October 9, 2008

Kallang/Jellicoe Hotel Site Gets $51m Bid: URA

Source : The Business Times, October 9, 2008

The Urban Redevelopment Authority closed the tender for the hotel site at Kallang Road/Jellicoe Road on Thursday, receiving a sole bid at $51 million.

Based on the site area of 45,415 sq ft and a maximum permissable gross floor area of 204,363 sq ft, the unit land price works out to be $249.56 per square foot per plot ratio.

The bidder, Citywide Land Pte Ltd, is thought to be linked to the Hotel 81 chain.

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