The URA announced that the 99-year Sturdee Road land site of 65,784 sq ft will be awarded to SL Capital 1 Pte Ltd, which submitted the top bid of $181.19 million, or $787 psf per plot ratio (ppr). According to Desmond Lim, head of CBRE Research for Singapore and Southeast Asia, the site had attracted the appetite of a “myriad of developers”, which reflects developers’ interest in replenishing their land bank. There were 16 bids for the site, one of the highest in recent years.