SINGAPORE - The Urban Redevelopment Authority (URA) said today it has accepted an application from a developer to put up the residential site at Prince Charles Crescent for sale by public tender.
The land parcel is located in an established residential area within the central region.
It is located near Redhill MRT station and is a short drive away from the Central Business District, Marina Bay and Orchard Road.
The residential site has a site area of about 2.38 ha and will have a maximum permissible gross floor area (GFA) of 49,950 sqm.
The developer committed to bid at a price of not less than $390,000,000 in the tender for the land parcel.
The site will be released for sale by public tender as the minimum price committed by the developer is acceptable to the Government.
In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site.
However, the identity of the applicant will not be released.
URA will launch the public tender for the site in about two weeks. The launch date will be announced later. The tender period for the land parcel will be about five weeks.
The land parcel was made available for sale through the Reserve List system on May 15 this year.