Tanah Merah residential site to be launched for sale for at least $320m

A tender for the Reserve List site will open in two weeks.

A residential site at New Upper Changi Road/ Bedok South Avenue 3 on the Reserve List will be launched for sale by public tender, the Urban Redevelopment Authority said today.

A developer has applied for the site to be put up for public tender, committing to bid at a price of not less than $320 million 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,” the URA said.

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 to six weeks,” the URA said.

The site has an area of 24,394 square metres and can yield up to 570 residential units.