Northumberland Road
AwardedResidential with commercial at 1st storey. URA sale site, built as Piccadilly Grand.
S$445,888,000
S$12,156.49 psm GFA, about S$1,129 psf ppr (derived). Awarded 5 May 2021 to Maximus Residential SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture) and Maximus Commercial SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture)
| Location | Allowable development | Site area | Maximum permissible GFA | Successful tenderer | Tendered price (S$ psm of GFA) |
|---|---|---|---|---|---|
| Northumberland Road | Residential with commercial at 1st storey | 8,732.9 m² | 36,679 m² | Maximus Residential SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture) and Maximus Commercial SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture) | S$445,888,000(S$12,156.49) |
As listed at the close of 27 April 2021 (ura-pr21-11), with the outcome the award of 5 May 2021 gave each.
| Rank | Tender ref | Tenderer | Tendered price | S$ psm GFA | S$ psf ppr (derived) | Outcome |
|---|---|---|---|---|---|---|
| 1 | 10 | Maximus Residential SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture) and Maximus Commercial SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture) | S$445,888,000 | S$12,156.49 | S$1,129 | Awarded |
| 2 | 23 | Winrich Investment Pte. Ltd., parent: Wing Tai Holdings Limited | S$421,888,999 | S$11,502.19 | S$1,069 | Unsuccessful |
| 3 | 7 | Holland V Properties Pte. Ltd. | S$418,777,000 | S$11,417.35 | S$1,061 | Unsuccessful |
| 4 | 22 | CSC Land Group (Singapore) Pte. Ltd. | S$388,890,565 | S$10,602.54 | S$985 | Unsuccessful |
| 5 | 28 | EL Development Pte Ltd | S$383,800,000 | S$10,463.75 | S$972 | Unsuccessful |
| 6 | 26 | Sim Lian Land Pte Ltd, parent: Sim Lian Group Limited | S$368,800,000 | S$10,054.80 | S$934 | Unsuccessful |
| 7 | 18 | Intrepid Investments Pte. Ltd., parent: Hong Leong Holdings Limited, Garden Estates (Pte.) Limited, parent: Hong Realty (Private) Limited / Hong Leong Investment Holdings Pte. Ltd. and TID Residential Pte. Ltd., parent: Hong Leong Holdings Limited / Mitsui Fudosan Co., Ltd. (joint venture) | S$351,000,000 | S$9,569.51 | S$889 | Unsuccessful |
| 8 | 8 | Peak Vista Pte Ltd | S$333,800,000 | S$9,100.58 | S$845 | Unsuccessful |
| 9 | 20 | GLL C Pte. Ltd. | S$315,847,000 | S$8,611.11 | S$800 | Unsuccessful |
| 10 | 12 | Japura Development Pte Ltd | S$256,000,000 | S$6,979.47 | S$648 | Unsuccessful |
Press releases, latest first
Each card is one release on its own date, with its text folded beneath. The latest is first and open.
5 May 2021
AwardedAward of Tender for URA Site at Northumberland Road
Awarded to
Maximus Residential SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture) and Maximus Commercial SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture), S$445,888,000 (S$12,156.49 psm GFA, about S$1,129 psf ppr).
Read the press releaseHide the press releaseura-pr21-12
The Urban Redevelopment Authority (URA) has awarded the tender for the site at Northumberland Road to Maximus Residential SG Pte. Ltd. and Maximus Commercial SG Pte. Ltd.
The companies submitted the highest bid in the tender for the site.
The site at Northumberland Road was launched for tender on 27 October 2020. The tender for the site closed on 27 April 2021. The land parcel was offered for sale on 99-year lease term.
Details of the awarded land parcel and the successful tenderer are provided below:
Table caption
| LOCATION | ALLOWABLE DEVELOPMENT | SITE AREA | MAXIMUM PERMISSIBLE GROSS FLOOR AREA (GFA) | SUCCESSFUL TENDERER | TENDERED PRICE ($PSM of GFA) |
|---|---|---|---|---|---|
| Northumberland Road | Residential with Commercial at 1st storey | 8,732.9 m2 | 36,679 m2 | Maximus Residential SG Pte. Ltd. and Maximus Commercial SG Pte. Ltd. | $445,888,000 ($12,156.49) |
27 April 2021
Tender closedTender closing for URA sale site at Northumberland Road
10 bids disclosed
Highest S$445,888,000 (S$12,156.49 psm GFA) from Maximus Residential SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture) and Maximus Commercial SG Pte. Ltd., parent: City Developments Limited / MCL Land Limited (joint venture)
Read the press releaseHide the press releaseura-pr21-11
The Urban Redevelopment Authority (URA) closed tender for the site at Northumberland Road today.
The public tender for the site at Northumberland Road was launched on 27 October 2020.
Please see Annex A for details of the site and tender bids received.
This is not an announcement of tender award. A decision on the award of the tender will be made after the bids have been evaluated. This will be publicised at a later date.
Site facts
- Selling authority
- URA
- Allowable development
- Residential with commercial at 1st storey
- Tenure
- 99 years
- Programme list
- Confirmed List, tender closed[ura-pr21-11/pr21-11a.pdf]
- Site area
- 8,732.9 sqm[ura-pr21-11/pr21-11a.pdf]
- Maximum GFA
- 36,679 sqm[ura-pr21-11/pr21-11a.pdf]
- Facts as stated on
- 27 April 2021
The market when bids closed
When bids closed on 27 April 2021, URA's latest quarterly figures were for 1Q2021, published 23 April 2021, 4 days earlier. The next release, 2Q2021, came on 23 July 2021. The table carries on through four releases after it.
| Private residential | 4Q2020Jan 2021 | On the day1Q2021Apr 2021 | 2Q2021Jul 2021 | 3Q2021Oct 2021 | 4Q2021Jan 2022 | 1Q2022Apr 2022 | Trend | Change1Q2021 to 1Q2022 |
|---|---|---|---|---|---|---|---|---|
| Prices | ||||||||
| Private home price index | 157.0 | 162.2 | 163.5 | 165.3 | 173.6 | 174.8 | +7.8% | |
| Non-landed, core central region | 133.6 | 134.3 | 135.8 | 135.1 | 138.7 | 138.6 | +3.2% | |
| Private rental index | 103.9 | 106.2 | 109.3 | 111.3 | 114.2 | 119.0 | +12.1% | |
| Sales | ||||||||
| New homes sold by developers | 2,603 | 3,493 | 2,966 | 3,550 | 3,018 | 1,825 | −47.8% | |
| Resales | 4,249 | 4,519 | 5,333 | 5,362 | 4,748 | 3,377 | −25.3% | |
| Sub-sales | 77 | 88 | 150 | 171 | 159 | 141 | +60.2% | |
| Units launched | 3,147 | 3,716 | 2,356 | 2,149 | 2,275 | 613 | −83.5% | |
| Supply | ||||||||
| Unsold, uncompleted, with planning approval | 24,296 | 21,602 | 19,384 | 17,140 | 14,154 | 14,087 | −34.8% | |
| Pipeline with planning approval | 49,307 | 48,139 | 47,097 | 47,715 | 46,276 | 47,415 | −1.5% | |
| Vacancy rate | 7.0% | 6.4% | 6.3% | 6.4% | 6.0% | 5.3% | −1.1 pts | |
Each figure is the quarter's own value as URA printed it in that quarter's release, not as later revised. Select a figure to see the annex and page it comes from.
Held back: URA prints the number in more than one place and the table's labels do not settle which one it is, so the archive stores it but does not show it.
Sources
- Press releasePublished 27 April 2021
Tender closing for URA sale site at Northumberland Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- c5df6aa7bada50eae5beb2a4e650d8006f4111a966c4849ef9c1fe991e46f971
- Size
- 424,633 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 09:29:48 UTC
- Prevo reference
- ura-pr21-11
- AnnexPublished 27 April 2021
Annex A to Tender closing for URA sale site at Northumberland Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- d68de9876c1f7e6666b212c72ae5013e5a2c00273e6380e6fcd5579ed8b3a092
- Size
- 28,464 bytes
- Format
- application/pdf
- Retrieved at
- 2026-09-18 09:29:48 UTC
- Prevo reference
- ura-pr21-11/pr21-11a.pdf
- Press releasePublished 5 May 2021
Award of Tender for URA Site at Northumberland Road
Urban Redevelopment Authority · Retrieved 18 September 2026
Source fact · Source-backedTechnical details
- SHA-256
- b4c6d79cae3af76e14ac835c04585f5ba272848e09c01e1d99e9e2dafbec7fbe
- Size
- 448,178 bytes
- Format
- text/html
- Retrieved at
- 2026-09-18 09:29:48 UTC
- Prevo reference
- ura-pr21-12