URA awards tenders for 2 sites

The Urban Redevelopment Authority (URA) has awarded the tender for a residential site at the junction of Sembawang Road and Jalan Sendudok to Hao Yuan Investment Ltd, after it offered the highest bid of S$191.8 million.

The 99-year leasehold site, which was launched for sale on 29 March 2011, has a total area of 27,667.8 sq m and a maximum gross floor area (GFA) of 38,735 sq m. It is zoned for condominium housing or strata landed housing development and could possibly yield up to 390 units.

Meanwhile, a white site at Boon Lay Way was awarded to JG Trustee Ltd and JG2 Trustee Ltd, after it submitted the highest bid of S$968.99 million, in a public tender that closed on 25 May 2011.

JG Trustee Ltd and JG2 Trustee Ltd is a joint venture (JV) between CapitaMalls Asia, HSBC Trust Services and CapitaLand, which own a 50 percent, 30 percent and 20 percent share respectively.

Launched for sale on 30 March 2011, the white site is the second land parcel to be released for sale at Jurong Gateway, after the successful sale of the first white site at Jurong Gateway Road to Lend Lease in June 2010.

The site has a total area of 18,159.1 sq m and a maximum permissible GFA of 88,980 sq m. It is zoned for a mixed development comprising residential, commercial and hotel facilities, with 40 percent of the minimum GFA allocated for office use.

It is located within the Jurong Gateway precinct, which will offer a good mix of hotel, retail, office, entertainment, food & beverage (F&B) outlets and other complementary uses.

The URA said that with the site’s “prominent location next to the Jurong East MRT station and the Jurong East bus interchange, the subject land parcel is ideal for a sizable mixed-use development.”

“To further build up the critical mass of quality office space within Jurong Gateway and provide more location choices for businesses, a minimum 40 percent of the maximum permissible GFA for the land parcel is to be set aside for office use.”

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