The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Boon Lay Way (Jurong Gateway) to MCL Land Limited.

It had submitted the highest bid of $369,388,000.00 for the 11,588 sq m site.

With a maximum gross floor area (GFA) of 48,670 sq m, this price works out to about $7,589.64 psm/gfa.

The tender for the residential site was launched on April 30 this year and closed on May 29. The land parcel was offered for sale on a 99-year lease term.

ellenja@sph.com.sg