by Ernie B. Calucag
The Urban Redevelopment Authority (URA) announced Monday that a residential site at Boon Lay Way will be put up for sale by public tender after an application from a developer has been accepted by the government.
The site –which was put on the reserve list in December 2011 – will be up for sale through a public tender in about two weeks after a property developer committed to bidding no less than S$214.71 million for it.
The 99-year leasehold site is 11,588 square metres in size, and has a maximum permissible gross floor area of 48,670 sq m.
It can potentially yield 590 housing units, and can be built up to a maximum 150 metres above the mean sea level.
The land parcel is located in Jurong Lake District, which is envisioned to be Singapore’s largest regional hub outside the city centre, with a mix of residential, office, retail, hotel, entertainment, food & beverage (F&B) and other complementary uses.
URA said it will firm up details on the tender launch date in a later announcement. Interested parties will have about four weeks from the launch to put up a bid.