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The Urban Redevelopment Authority (URA) announced today that it has approved an application from a developer for a hotel site at Rangoon Road/Farrer Park Station Road to be put up for public tender.
The site had been made available for sale through the Reserve List system since 16 November last year and the developer committed to bid a minimum of S$56.5 million in the tender.
The 0.3-ha land parcel is expected to generate a gross floor area (GFA) of around 13,004 sq m. It is within close proximity to Little India and Farrer Park MRT station, and offers easy accessibility to the business districts of Raffles Place and Marina Bay.
The URA will launch the public tender for the site in about two weeks, though the exact launch date will be revealed later. The tender period for the land parcel will be around eight weeks.
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