The tender for the Margaret Drive residential site closed last December 06, 2016. The site was launched on November 10 by the Urban Development Authority (URA) under the Reserved List of the Government Land Sales (GLS) Programme. It offers a 99-year leasehold.
The URA awarded the tender to its highest bidder, MCL Land (Regency). The award was decided after thorough evaluation of the bids. MCL Land (Regency) outbids Allgreen Properties. The top bid reached $238.39million for the residential site has 4,809.8 square meter which can yield about 275 units of spacious homes.
Details of the tender result is shown below.
This New Condo Margaret Ville set to launch in 1st half of 2018. This development will likely attract investors due to its city fringe location. A trip to Orchard Shopping belt will likely be 10 minutes drive away.