Staff Reporter
,
Singapore
Novel Developments and New Vista Realty submitted the highest bid of $127.76 million.
According to Li Hiaw Ho, Executive Director of CBRE Research, the highest bid is more than twice the trigger price of $51.50 million.
The land parcel is well-located with entertainment hubs like Robertson Quay, Boat Quay and Clarke Quay nearby. The area is also growing into an established hotel location.
The site has a maximum GFA of 136,175 sq ft and an estimated 350 rooms can be developed.
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