New Marina Bay site expects to fetch over $1b

New Marina Bay site expects to fetch over $1bhttp://www2.nationproperty.com.sg/np...ges/spacer.gif

12 June

The Urban Redevelopment Authority (URA) has on 30 May released a prime piece of Marina Bay land for tender. The 1.02 ha site will definitely cause a dog-fight among major developers from across the region.
The site is behind One Shenton and The Sail @ Marina Bay condominiums. It can be redeveloped into a 40-storey project with 70% offices and 30% of other uses including more offices, hotel rooms, homes or shops.
Experts expect bids to range between $830 million and $1.09 billion, based on an estimated rental yield of about 6.5% to 7.5%. This will work out to $580 to $760 per sq ft per plot ratio (psf ppr).

Source: Nationproperty website