The URA has awarded the Toh Tuck Road site to S P Setia Group. The site will be home to the Malaysian group’s third development in Singapore.

URA received a total of 24 bids, with S P Setia submitting the top bid of $265 million. That works out to $939 psf of gross floor area for the 1.87ha site, which has a plot ratio of 1.4. S P Setia says it plans to build a 327-unit, five-storey condominium with a total GFA of 282,100 sq ft on the site. It plans to launch the project in 2018.

The new condo, which is within short walking distance of the Beauty World MRT station, will enjoy choice amenities, the developer says. It is also accessible to other parts of the city state via the Pan Island Expressway and the Bukit Timah Expressway. It is also close to the Bukit Timah Nature Reserve and Bukit Batok Nature Park — a boon for those who enjoy the outdoors.

S P Setia’s first project in Singapore was 18 Woodsville, next to the Potong Pasir MRT station. The 101-unit freehold condo was launched in 2012 and completed in 2015. The group’s second development was the 99-year leasehold Eco Sanctuary. The 483-unit condo on Chestnut Avenue was completed last year.