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The Urban Redevelopment Authority (URA) has awarded the tender for the site at Zion Road (Parcel A) to CDL-MFA Vega Property Pte. Ltd. and CDL-MFA Altair Property Pte. Ltd., and the tender for the site at Upper Thomson Road (Parcel B) to GuocoLand (Singapore) Pte. Ltd. and Intrepid Investments Pte. Ltd.
The tenders for these sites were launched on 4 December 2023 and closed on 4 April 2024. The sites were offered for sale on 99-year lease terms.
Details of the awarded sites and the successful tenderers are provided below:
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| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($PSM of GFA) |
|---|---|---|---|---|---|
| Zion Road (Parcel A) | Residential with Commercial at 1st Storey | 15,277.9 m² | 85,557 m² * | CDL-MFA Vega Property Pte. Ltd. and CDL-MFA Altair Property Pte. Ltd. | $1,106,888,000.00 ($12,937.43) |
| Upper Thomson Road (Parcel B) | Residential | 32,023.7 m² | 80,060 m² | GuocoLand (Singapore) Pte. Ltd. and Intrepid Investments Pte. Ltd. | $779,555,000.00 ($9,737.13) |
*A minimum 20,000 m² of GFA is to be set aside for Long-Stay Serviced Apartments (SA2) use