Media Circle land parcel draws single bid

The sole bidder submitted a bid of $120.1m.

The land parcel at Media Circle attracted a single bid when the tender closed on 19 September.

The Urban Redevelopment Authority (URA) launched the site for tender on 30 May.

URA announced that the sole bid for the site came from a consortium comprising FCL Land, Padawan MC, and Empire North Property.

The group bid $120.1 million, or $4,960 per square meter (psm) of gross floor area (GFA).

The Media Circle land parcel is a mixed-use site planned for development into a long-stay serviced apartment complex with commercial spaces on the first floor.

The site has an area of 5,764.3 square meters and a maximum permissible GFA of 24,211 square meters.

The lease period for the site is 60 years.

URA will announce the tender award at a later date after evaluation of the received bid.

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