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29-09-2017, 12:52 PM
Beach Road commercial site nets five bids, including $1.622b offer, as tender closes
By Annabeth Leow
Pubslished SEP 28, 2017, 6:54 PM SGT
SINGAPORE - A Beach Road site up for commercial development has netted five offers, with the top bid at $1.622 billion, the Urban Redevelopment Authority (URA) said as the tender exercise closed on Thursday (Sept 28).
The heftiest offer, which works out to $1,706 per sq ft (psf) per plot ratio (ppr), came from two GuocoLand units.
Other bids were made by a company linked to Kingsford Development's owner Cui Zhengfeng; OUE subsidiaries; Japura Development, owned by Hong Kong's CK Hutchison Holdings; and three Far East Organisation units.
More details in http://www.straitstimes.com/business/pro...der-closes
By Annabeth Leow
Pubslished SEP 28, 2017, 6:54 PM SGT
SINGAPORE - A Beach Road site up for commercial development has netted five offers, with the top bid at $1.622 billion, the Urban Redevelopment Authority (URA) said as the tender exercise closed on Thursday (Sept 28).
The heftiest offer, which works out to $1,706 per sq ft (psf) per plot ratio (ppr), came from two GuocoLand units.
Other bids were made by a company linked to Kingsford Development's owner Cui Zhengfeng; OUE subsidiaries; Japura Development, owned by Hong Kong's CK Hutchison Holdings; and three Far East Organisation units.
More details in http://www.straitstimes.com/business/pro...der-closes
Specuvestor: Asset - Business - Structure.