On Dec 19, URA launched the public tender exercise for the residential site at West Coast Vale. Located off the Ayer Rajah Expressway (AYE), the Reserve List site was made available for sale under the 2H2017 Government Land Sales (GLS) programme. The tender will close on Jan 30, 2018.
URA announced on Dec 4 that a developer had committed to place a bid of no less than $379,988,000 for the West Coast Vale site, which has an estimated area of 1.96ha. The site has a plot ratio of 2.8, which translates into a maximum gross floor area of 54,857 sq m.
Flanked by the 752-unit Parc Riviera, the 493-unit Botannia as well as the 315-unit The Infiniti, the 99-year leasehold West Coast Vale site can yield an estimated 730 housing units, according to URA.
(Credit: URA)
“The tender could draw about five to eight bids, and a top bid of between $390 million and $425 million ($660 to $720 psf per plot ratio),” estimates Nicholas Mak, executive director of ZACD Group.