FC Commercial Trustee tops Cecil Street / Telok Ayer Street bidding with $923.9m
It was offered on a 99-year lease term.
According to a release, the Urban Redevelopment Authority (URA) has awarded the tender for the commercial site at Cecil Street / Telok Ayer Street to FC Commercial Trustee Pte. Ltd. (as Trustee-Manager of Aquamarine Star Trust).
The company submitted the highest bid in the tender for the site at a price of $923.9m.
Tender for the commercial site was launched on 18 June 2013 and closed on 15 August 2013. The land parcel was offered for sale on a 99-year lease term.