Orchard Road / Paterson Road

Awarded

Commercial development with an underground shopping mall (incorporating a pedestrian walkway) under Paterson Road. URA sale site, built as ION Orchard.

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[ Award ]

S$1,380,000,000

S$10,976.25 psm GFA, about S$1,020 psf ppr (derived). Awarded 14 December 2005 to Capitaland Retail Singapore Investments Pte Ltd, parent: CapitaLand Investment Limited & Gresward Pte Ltd.

Location	Allowable development	Site area	Maximum permissible GFA	Successful tenderer	Tendered price (S$ psm of GFA)
Orchard Road / Paterson Road	Commercial development with an underground shopping mall (incorporating a pedestrian walkway) under Paterson Road	18,649.7 m²	125,726 m²	Capitaland Retail Singapore Investments Pte Ltd, parent: CapitaLand Investment Limited & Gresward Pte Ltd	S$1,380,000,000(S$10,976.25)

[ The one tender received ]

As listed at the close of 8 December 2005 (ura-list-2005-orchard-road-paterson-road-close), with the outcome the award of 14 December 2005 gave each.

Rank	Tenderer	Tendered price	S$ psm GFA	S$ psf ppr (derived)	Outcome
1	Capitaland Retail Singapore Investments Pte Ltd, parent: CapitaLand Investment Limited & Gresward Pte Ltd	S$1,380,000,000	S$10,976.25	S$1,020	Awarded

Press releases, latest first

Each card is one release on its own date, with its text folded beneath. The latest is first and open.

14 December 2005

Awarded

Orchard Road / Paterson Road: awarded to Capitaland Retail Singapore Investments Pte Ltd & Gresward Pte Ltd, as URA's list of vacant sites sold dates it

Dated as the agency’s list of sites sold prints it (URA Vacant Sites (online version)). The list is the source; no release of this date is on record.

Awarded to

Capitaland Retail Singapore Investments Pte Ltd, parent: CapitaLand Investment Limited & Gresward Pte Ltd, S$1,380,000,000 (S$10,976.25 psm GFA, about S$1,020 psf ppr).

Source: URA Vacant Sites (online version) (Prevo reference ura-list-vacant-sites-sold)

8 December 2005

Tender closed

Orchard Road / Paterson Road: tender closed with 8 bids, as URA's list of vacant sites sold dates it

Dated as the agency’s list of sites sold prints it (URA Vacant Sites (online version)). The list is the source; no release of this date is on record.

1 bid disclosed

Highest S$1,380,000,000 (S$10,976.25 psm GFA) from Capitaland Retail Singapore Investments Pte Ltd, parent: CapitaLand Investment Limited & Gresward Pte Ltd.

Source: URA Vacant Sites (online version) (Prevo reference ura-list-vacant-sites-sold)

26 September 2005

Launched for tender

Orchard Road / Paterson Road: launched for tender, as URA's list of vacant sites sold dates it

Dated as the agency’s list of sites sold prints it (URA Vacant Sites (online version)). The list is the source; no release of this date is on record.

Source: URA Vacant Sites (online version) (Prevo reference ura-list-vacant-sites-sold)

Site facts

Selling authority: URA
Allowable development: Commercial development with an underground shopping mall (incorporating a pedestrian walkway) under Paterson Road
Tenure: 99 years
Programme list: None stated; sold by tender, as ura's list records itA URA sale tender its source places on neither the Confirmed nor the Reserve List of the Government Land Sales programme. No list is inferred.The list counts 8 bids and names only the successful tenderer.[ura-list-vacant-sites-sold]
Site area: 18,649.7 sqm[ura-list-vacant-sites-sold]
Maximum GFA: 125,726 sqm[ura-list-vacant-sites-sold]
Tender conditions: Development type (list code): Commercial
Planning area: Orchard
Facts as stated on: 26 September 2005

Sources

Agency listPublication date not recorded
URA Vacant Sites (online version)
Urban Redevelopment Authority · Retrieved 19 September 2026
Source fact · Source-backed
Original source link unavailable
Technical details
SHA-256
28dd0ed255e0d696107b6536f72cdb2ea430144a681f78fd82d1c05f9232b373
Size
82,692 bytes
Format
application/vnd.openxmlformats-officedocument.spreadsheetml.sheet
Retrieved at
2026-09-19 13:27:59 UTC
Prevo reference
ura-list-vacant-sites-sold