Tenders for three GLS sites were awarded by URA on Sept 12. The tenders for the sites, at Tan Quee Lan St, Bernam St and one-north Gateway, closed on Sept 5 and were awarded to the three highest bidders. The 124,116 sqft site at Tan Quee Lan St was awarded to GLL D Pte Ltd, Intrepid Investments and Hong Realty, a JV between GuocoLand and subsidiaries of Hong Leong Holdings. They submitted a top bid of $800.2 million, which translated to $1,535 psf ppr. The 41,400 sqft Bernam St site was awarded to HY Realty, the Chinese developer Hao Yuan Investments. Hao Yuan submitted a top bid of $440.9 million which translates to a land cost of $1,463 psf ppr. The 62,201 sqft site at one-north Gateway was awarded to TID Residential. It is a unit of TID Pte Ltd, which is a JV between Japanese developer Mitsui Fudosan and Hong Leong Holdings. TID Residential submitted a top bid of $155.7 million, which translates to a land cost of $1,001 psf ppr.... Continue Reading