Winchamp Investment, a subsidiary of Wing Tai Holdings, has been awarded the tender for a Government Land Sales (GLS) site at River Valley Green.
The developer submitted the top bid of $464 million for the 100,009 sq ft site off River Valley Road when the tender closed on June 19. Wing Tai's winning bid translates to a land rate of $1,325 psf per plot ratio.
According to a press released issued by Wing Tai, the site will be developed into a 'modern and luxurious residential development' comprising over 400 units.
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"Wing Tai is delighted to have been awarded this attractive site set within the prime bustling River Valley area. Leveraging the superior location attributes and comprehensive amenities in the area, we look forward to creating a distinctive development with premium living spaces that complement the vibrant pulse of city centre living," says Edmund Cheng, Deputy Chairman of Wing Tai Holdings.
River Valley Green (Parcel A) has a plot ratio of 3.5 and a maximum gross floor area of 350,035 sq ft. The site is adjacent to Great World City MRT Station on the Thomson-East Coast Line and it is close to Great World City.