A total of five bids were received for the residential site at Pasir Ris Drive 3.

The Urban Redevelopment Authority (URA) closed the tender for the 22,317.4 sq m today. It was launched for sale by public tender on April 16 and was offered for sale on a 99-year lease.

Capital Development Pte. Ltd. submitted the highest bid of $210,999,000, followed closely by Singland Development Pte. Ltd. with $209,888,000.00. The lowest bid of $156.39 million was submitted by Frasers Centrepoint Limited.

A decision on the award of the tender will be made after the bids have been evaluated.

ellenja@sph.com.sg