URA to Launch Farrer Drive Site for Sale
by Ernie B. Calucag
The residential site at Farrer Drive will be launched for sale by public tender in about two weeks, the Urban Redevelopment Authority (URA) said on Friday.
URA said it has accepted an application from a developer for the 0.63-hectare site to be put up for public tender after it was made available for sale through the Reserve List system on 16 April 2012.
The developer committed to bid at a price of not less than S$88.89 million in the tender for the 99-year leasehold land parcel, which will have a maximum permissible gross floor area of 10,030 square metres.