URA awards Thomson Road white site at S$492.5m
Dec 10, 2012 - PropertyGuru.com.sg

By Romesh Navaratnarajah:

A white site located at Thomson Road/Irrawaddy Road (pictured) has been awarded to a consortium led by Hoi Hup Realty after it submitted the top bid of S$492.5 million.

This translates to S$17,562.32 psm on the gross floor area (GFA) of 28,043 sq m, according to the Urban Redevelopment Authority (URA).

Launched for public tender on 4 October, the 6,676.8 sq m site has a 99-year lease and attracted a total of nine developers.

At least 30 percent of the GFA will be allocated for hotel use while the remainder may be used for residential, office, retail and other commercial uses.