Tenders for sites in Cuscaden Road, Mattar Road and Silat Avenue go to highest bidders

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The site at Cuscaden Road, a 5,722.5 square metre residential development, was awarded to Amberden Pte Ltd, FEC Properties Pte Ltd and Orchard Square Pte Ltd. PHOTO: URA

SINGAPORE – The Urban Redevelopment Authority of Singapore (URA) on Thursday (May 17) announced that the tenders for the sites in Cuscaden Road, Mattar Road and Silat Avenue have gone to the highest bidders – or, in the case of Silat Avenue, the sole bidder.

The site in Cuscaden Road, a 5,722.5 sq m residential development, was awarded to Amberden, FEC Properties and Orchard Square. The tendered price is some $409.99 million, which set a new record price for government land sale sites of $25,588.22 per sq m (PSM) of gross floor area (GFA).

The site in Mattar Road, a 6,230.2 sq m residential development, has gone to FSKH Development at a tendered price of $223 million. The PSM of GFA is $11,931.89.

The site in Silat Avenue, a 22,851.6 sq m part-residential and part-residential with commercial-at-first-storey development, was awarded to UOL Venture Investments, UIC Homes and Kheng Leong Co. The consortium submitted the sole bid of $1.035 billion, which works out to PSM of GFA of $12,244.68, for the huge site which can yield 1,125 units.

The tender for the site in Cuscaden Road was launched on Feb 27, while those for the sites in Mattar Road and Silat Avenue were launched on March 16. All three tenders closed on April 26. The land parcels were offered for sale on 99-year lease terms.

Adapted from : The Straits Times, 17 May 2018