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The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the Residential site at Zion Road (Parcel B) for sale by public tender. This is a Reserve List site on the first half 2024 (1H2024) Government Land Sales Programme.
URA has received an application from a developer for the site to be put up for public tender. The developer has committed to submit a bid not lower than a minimum price of $604,567,890 in the tender for the land parcel. As the minimum price committed by the developer is assessed to be acceptable to the Government, the site will be released for sale by public tender.
In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released. URA will launch the public tender for the site in May 2024 and close the tender in July 2024.
Details of the land parcel With a land area of about 0.9 ha, the Residential site at Zion Road (Parcel B) will have a maximum permissible gross floor area of 52,002 m2 and can yield about 610 private residential units.
Details of the land parcel are provided in Annex 1._