SINGAPORE: Stirling Land Holdings has been awarded the tender for a 99-year leasehold land parcel at Holland Road and its future development will add vibrancy to Holland Village, said the Urban Redevelopment Authority (URA) on Wednesday (May 16).
The existing shophouse street block at Holland Village will be part of the proposed development, and more public spaces will be added to "extend the street experience" of the area, URA said.
More retail and dining options are planned and more homes will be provided "in the heart of Holland Village".
The future development will have three zones and each will be anchored by a public space: Commons Square, which can hold events such as weekend markets and outdoor performances; Communal Green, a courtyard flanked by shops leading to a water court and terraced water feature; and Pocket Park, which will open into Lorong Mambong, a main street in Holland Village.
The public spaces and surrounding areas will be connected by open walkways and two existing roads, Lorong Liput and Lorong Mambong, will be extended.
When the tender closed in March, 15 concept proposals from 10 tenderers were received. Five concepts with strong development concepts and architectural designs appropriate to the site were shortlisted, said URA.
"The tenderers and lead architects for these schemes also have good track records in designing, developing and managing good quality mixed-use developments in Singapore or overseas," the authority added.
Among the five, Stirling Land Holdings submitted the highest bid of S$1.21 billion for the 22,967 sq m site which will yield a maximum gross floor area of 59,715 sq m. This works out to $20,318.73 per sq m of the gross floor area.
The estimated number of homes that will be built in the area is 570 units.