New Launch in Singapore: Bukit Sembawang Unit Wins Bukit Timah Link Site with S$200 Million Bid.
The Urban Redevelopment Authority (URA) on Tuesday (November 15) awarded a tender for New Launch in Singapore ;a 99-year lease in Bukit Timah Link to Bukit One, a wholly owned subsidiary of the Land Bukit Sembawang.
Of the five bids, Bukit One's bid was the highest - S$200 million or S$14,457 per square meter (m2) of gross floor space (GFA), a URA document said. The site was put up for tender on August 31 and closed on November 3.
New Launch in Singapore: The Bukit Timah Link land parcel is on a site area of 4,611.1 sq m and comes with a maximum GFA of 13,834 sq m. PHOTO: URA
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This New Launch Condolot covers an area of 4,611.1 m2 and can have a maximum GFA of 13,834 m2. The building has a maximum height of 20 floors.
In a filing with the exchange on Tuesday, Bukit Sembawang Estate said it intends to develop the lot into a 20-story New Launch in Singapore consisting of 160 condominium units with shared facilities and to "manage the lifestyle international village" which they believe will attract young families and investors.
"This lifestyle concept will suit this location very well with a country vibe and will provide an attractive option for buyers looking for a unique lifestyle, as they enjoy the gentrification. and transformation of the Beauty World region," the group added.
The transaction will be financed by the group's internal resources and bank loans. It is not expected to have a significant impact on the group's net tangible assets or earnings per share for the financial year ended March 31, 2023.
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