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SINGAPORE : A white site at Marina View is expected to receive bids of up to S$1.1 billion when the tender for the sale closes in September.
The Urban Redevelopment Authority (URA) launched the tender for the one hectare 99-year leasehold site on Wednesday.
The site has a gross plot ratio of 13 and can yield a maximum permissible gross floor area of over 133,000 square metres.
A minimum of 70 percent of the gross floor area has to be set aside for office use.
This is higher than the 60 percent set for previous URA tender exercises for white sites.
The URA says this is is to meet the demand for prime office space.
The remaining 30 percent of the floor area may be developed for additional office space or other uses allowable under the white zoning.
These include hotel, residential and other commercial uses such as retail and entertainment.
The site will be connected to surrounding developments at One Raffles Quay, One Marina Boulevard, Marina Bay Financial Centre and One Shenton through an extensive network of underground pedestrian walkways and second storey links.
It will be served by the Common Services Tunnel.
This is a system of underground tunnels which house and distribute utility service lines, including power and telecommunication cables.
This means future office tenants will have access to uninterrupted supply of major utilities, emergency back-up services and the capacity for expansion to meet changing utility needs. - CNA/ch
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