SINGAPORE - A public tender for the residential site at New Upper Changi Road along Bedok South Avenue 3 has been launched today (Jan 20).
In a statement, the Urban Redevelopment Authority (URA) said the 24,394 sq m site can potentially yield about 570 residential units with a lease period of 99 years.
According to URA, the site is located within an established private residential estate and near Tanah Merah MRT station. It is also well-connected to major roads and expressways such as the Pan Island Expressway (PIE) and East Coast Parkway (ECP), with various shopping and entertainment options, outdoor recreation facilities and schools nearby.
A developer had applied for the site to be put up for public tender on Jan 7, and had committed to bid at least $320 million for the site.
"Any tender below the minimum bid price of $320 million will not be considered," URA said.
The tender will close at 12 noon on Feb 23, 2016.