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Singapore authority closes tender for resi sites

Singapore's Urban Redevelopment Authority closed the tenders for two residential sites at Jiak Kim Street and Fourth Avenue.

The sites, originally on the Reserve List of the Government Land Sales Program, were offered for sale with lease periods of 99 years.

For the roughly 13,482-square-meter Jiak Kim Street land parcel, the authority revealed in a release a maximum tendered sale price of about S$955.4 million from Frasers Centrepoint Ltd. subsidiary FCL Residences Pte. Ltd. The maximum tendered sale price for the Fourth Avenue land parcel, which spans roughly 18,532 square meters, came from Allgreen Properties Ltd. at about S$553.0 million.

No decision has yet been taken on the award of the tenders.

As of Dec. 4, US$1 was equivalent to S$1.35.