Residential site at Boon Lay Way to be up for sale by public tender

The residential site can potentially yield about 590 housing units.

In a release, the Urban Redevelopment Authority announced that it has accepted an application from a developer to put up the residential site at Boon Lay Way for sale by public tender.

The land parcel was made available for sale through the Reserve List system on December 22, 2011. 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 $214,712,572 in the tender for the land parcel. As the minimum price committed by the developer is acceptable to the Government, the site will be released for sale by public tender.

In accordance with the procedures of the Reserve List system, URA is making public the minimum price committed for the site. However, the identity of the applicant will not be released. URA will launch the public tender for the site in about two weeks. The launch date will be announced later. The tender period for the land parcel will be about four weeks.

With a site area of about 1.2 ha, the residential site will have a maximum permissible gross floor area of 48,670 sqm and can potentially yield about 590 housing units.

The land parcel is located in Jurong Lake District, which is envisioned to be Singapore’s largest regional hub outside the city centre, with a good mix of residential, office, retail, hotel, entertainment, food & beverage and other complementary uses.