Midtown Modern by Guocoland Near to Hawker Centres and Cafes
The tender for Urban Redevelopment Authority’s (URA) Midtown Modern web site offered below the Government Land Sales (GLS) program has closed. The tender attracted two bidders. A partnership of three developers GuocoLand, and subsidiaries of Hong Leong Holdings, which square measure Hong Reality and bold Investment submitted the highest bid of S$800.19 translating to S$1,535 psf ppr. The second bid was a tie-up between MCL Land and City Developments.
The site enjoys a most gross floor space of around 521,301 sq ft. The development is predicted to deal with up to 580 private residential units and industrial areas. The maximum GFA for the serviceable residences is twelve,000 sq m, and the total GFA for the retail spaces at the primary level shall not exceed a pair of,000 sq m. The estimated breakeven worth for the Midtown Modern web site is regarding S$2,200 FTO and a mercantilism worth quite S$2,400 psf.…