An 18,532.2 sq m residential site in Fourth Avenue that could yield about 455 houses was launched for sale via public tender by the Urban Redevelopment Authority (URA) on Thursday (2 November 2017).
Offered on a 99-year leasehold tenure, the plot was triggered for sale after the URA said on Tuesday (31 October) that a developer has pledged to a minimum bid price of $448.8 million.
With a maximum gross floor area of 33,358 sq m, the Reserve List site near Sixth Avenue MRT Station is being offered under the 1H 2017 Government Land Sales Programme.
The public tender for the land parcel is scheduled to close at 12 noon on 5 December 2017, with submitted bids below the minimum price to be excluded.
This article was edited by Keshia Faculin.