Published:
MCL Land tops bidding for Margaret Drive residential site
It submitted a top bid of $238.4m.
The Urban Redevelopment Authority has received 14 bids as it closed the tender for a residential site at Margaret Drive in Queenstown.
It was MCL Land which topped the bids at a price of $238.4m for the 4,809.8 sqm site. This would mean that MCL is eyeing to pay $10,740 per sqm of the gross floor area, which is at 22,195 sqm.
Allgreen Properties came in next, with a bid of $220.9m, closely followed by UOL Venture Investments with a bid of $220.1m.
The site, which was offered for sale on a 99-year lease term, was formally launched for public tender on November 10. It was originally on the Reserve List of the Government Land Sales Programme.
Read Here
Advertise
Sign Up
