Parcel A at Slim Barracks Rise was awarded to EL Development for $320.1 million, while Parcel B was awarded to Gao Xiuhua for $162.4 million. Source: URA
The tenders for the two sites at Slim Barracks Rise have been awarded to EL Development and Gao Xiuhua, after they submitted the highest bids for the sites, announced the Urban Redevelopment Authority (URA) on Monday (11 October).
El Development submitted the top bid for Parcel A at $320.1 million or $1,246 per square foot per plot ratio (psf ppr).
Spanning 7,957.3 sq m, the 99-year leasehold site has a maximum gross floor area (GFA) of 23,872 sq m. It is expected to yield 265 housing units with a retail cap of 800 sq m in GFA.
Gao Xiu Hua, who is said to be the wife of the Chairman of Kingsford Development, tendered the top bid of $162.4 million or $1,210 psf ppr for Parcel B.
The 5,936.6 sq m site comes with a maximum GFA of 12,467 sq m and 99-year leasehold tenure. It is expected to yield 140 private homes with a retail cap of 400 sq m in GFA.
Launched on 15 June, the two sites received robust interest during the close of their tender on 28 September, with ten bids each.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: firstname.lastname@example.org.