Wee Hur Development and CDL were the highest bidders for the GLS sites. Photo: Irwell Bank Road site.
The tenders for two residential Government Land Sales (GLS) sites at Jalan Bunga Rampai and Irwell Bank Road have been awarded the highest bidders, announced the Urban Redevelopment Authority (URA) on Tuesday (14 January).
Attracting nine bids, the 4,666.6 sq m (50,230 sq ft) site at Jalan Bunga Rampai was awarded to Wee Hur Development, which submitted the top bid of $93.39 million. It has a maximum gross floor area of 9,800 sq m and can yield about 115 housing units.
Meanwhile, the 12,786.5 sq m (137,659 sq ft) site at Irwell Bank Road, which received seven bids, was awarded to City Developments (CDL) after it placed the highest bid of $583.89 million. It has a gross floor area of 35,809 sq m (385,444 sq ft) and can hold around 445 residential units.
Both sites were offered 99-year leases, with the tender for the Jalan Bunga Rampai launched on 29 August 2019, while that for Irwell Bank Road on 31 October 2019.
The tenders all closed on 9 January.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email firstname.lastname@example.org