Published:
URA to launch public bidding for Fourth Avenue site
Asking price starts at $448m.
The Urban Redevelopment Authority (URA) will launch the public bidding for the sale of a residential site at Fourth Avenue.
According to URA, it was available for sale on the Reserve List of the 1st Half 2017 Government Land Sales (GLS) Programme.
URA received an application from a developer for the site to be put up for public tender.
The developer committed to bid at a price of not less than $448.80m in the tender for the land parcel.
Edmund Tie & Company (ET&Co) expects the winning land bid to hit $567m or $1,580 psf ppr.
ET&Co Head of research Lee Nai Jia said the land parcel is "very attractive, with Sixth Avenue MRT Station at its door step and its close proximity to the good schools."
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