Tenders awarded for three GLS sites

By Bong Xin Ying / EdgeProp Singapore | September 12, 2019 3:53 PM SGT
GLS SITE - Three Government Land Sales (GLS) are at Tan Quee Lan Street, Bernam Street and one-north Gateway - EDGEPROP SINGAPORE
Three Government Land Sales (GLS) are at Tan Quee Lan Street, Bernam Street and one-north Gateway
SINGAPORE (EDGEPROP) - Tenders for three Government Land Sales (GLS) sites were awarded by the URA on Sept 12. The tenders for the sites, at Tan Quee Lan Street, Bernam Street and one-north Gateway, closed on Sept 5 and were awarded to the three highest bidders.
The 124,116 sq ft site at Tan Quee Lan Street was awarded to GLL D Pte Ltd, Intrepid Investments and Hong Realty, a joint venture between GuocoLand and subsidiaries of Hong Leong Holdings. They submitted a top bid of $800.2 million, which translated to $1,535 psf per plot ratio (ppr).
The 41,400 sq ft Bernam Street site was awarded to HY Realty, the Chinese developer Hao Yuan Investments. Hao Yuan submitted a top bid of $440.9 million which translates to a land cost of $1,463 psf ppr.
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The 62,201 sq ft site at one-north Gateway was awarded to TID Residential. It is a unit of TID Pte Ltd, which is a joint venture between Japanese developer Mitsui Fudosan and Hong Leong Holdings. TID Residential submitted a top bid of $155.7 million, which translates to a land cost of $1,001 psf ppr.
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