Sunday, January 6, 2008

UOL Group Submits Top Bid For Simei Residential Land Parcel

Source : TODAY, Weekend, January 5, 2008

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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