URA to launch tender for Beach Road site

SINGAPORE — The Urban Redevelopment Authority (URA) will launch a public tender for a commercial site on the Reserve List at Beach Road, after receiving an application from an unnamed developer at a bid price of not less than S$1.138 billion.

The land parcel was first made available for sale in November 2014. The mixed office/retail site, with a maximum permissible gross floor area of 88,313 sqm, will be open for bidding early next month, said the URA.

Separately, the Housing and Development Board on Wednesday awarded the tender for a mixed commercial and residential site in Bidadari estate to a consortium of Singapore Press Holdings and Kajima Development for the top bid of S$1.132 billion. Last month, units of China’s Nanshan Group and Logan Property submitted the winning bid above S$1 billion for a land parcel in Stirling Road, the first time a purely residential site on the Government Land Sales programme has exceeded that price quantum.

CORRECTION: In an earlier version of this story, the headline wrongly suggested that the tender for the Beach Road site has been launched.  It will be put up for tender next month. We are sorry for the error.