SINGAPORE: The Urban Redevelopment Authority (URA) has placed a Reserve List site at Thomson Road/Irrawaddy Road for sale via public tender.
The land parcel is located within the commercial hub at Novena, at the fringe of the city centre.
It spans 0.66 hectares and will have a maximum permissible Gross Floor Area (GFA) of about 28,000 square metres.
URA said at least 30 percent of the maximum permissible GFA must be allocated for hotel use.
The remaining GFA can be developed for residential, office, retail and other commercial uses.
URA said the white site was triggered for sale on September 21, after an unnamed developer committed to bid at a price of no less than S$211.3 million for the plot.
Under the Reserve List system, a site will only be put up for tender if the developer's minimum bid price is acceptable to the government.
The tender will close at noon on December 4, 2012.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
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