URA releases Geylang East site for tender
SINGAPORE — The Urban Redevelopment Authority (URA) is releasing a residential site at Geylang East Avenue 1 for sale by public tender, after receiving a commitment by a developer to bid at least S$95 million.
SINGAPORE — The Urban Redevelopment Authority (URA) is releasing a residential site at Geylang East Avenue 1 for sale by public tender, after receiving a commitment by a developer to bid at least S$95 million.
The 67,146-sq-ft land parcel, located next to Aljunied MRT station, was made available for sale through the Reserve List system on May 15. The 99-year leasehold site has a maximum permissible gross floor area of 188,013 sq ft and is expected to yield 215 homes.
In accordance with the procedures of the Reserve List system, the URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released.
The URA will launch the public tender for the site in about two weeks at a later date. The tender period will be about four to six weeks.
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