Source : Business Times – 23 Sep 2009
Urban Redevelopment Authority said on Wednesday it has accepted an application for another site on the government’s reserve list . The latest 99-year leasehold condo plot is at Upper Thomson Road.
The minimum bid price that the successful applicant – who was not named – has undertaken to offer is $82 million, which works out to $174 per square foot per plot ratio.
This is the fifth site that can be developed into private housing that has been triggered from the government’s reserve list since July.
The tender for the latest plot, which is opposite the Singapore Island Country Club, will be launched in about two weeks. The tender period will be about four weeks.
Last week National Development Minister Mah Bow Tan said the government will restart land sales in the confirmed list as well as replenish the reserve list in first half 2010. Sites in the reserve list are launched for sale only upon successful application by a developer who commits to offer a minimum price acceptable to the state. Confirmed list sites, on the other hand, are launched according to a prestated schedule and hence could translate to more launches of property projects.
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