The tender for a site at the junction of Victoria Street and Jalan Sultan has been awarded to Forward Land Pte Ltd for $331,336,000.
Tender for the 99-year lease site was launched on August 16 and closed on October 11.
The land can be used for hotel or commercial and residential development.
The tender price is equivalent to $10,696.19 per square metre of gross floor area.
Forward Land submitted the highest bid in tender for the site.