The Urban Redevelopment Authority (URA) awarded the tender for the hotel site at Rangoon Road / Farrer Park Station Road to RB Capital Robertson City Pte Ltd and RB Capital Farrer Pte Ltd.

The consortium submitted the highest bid of $151,005,000 for the site. This works out to a unit land price of about $11,612.20 per square meter of gross floor area (GFA).

The tender for the hotel site, which was offered for sale on a 99-year lease, was launched on February 16 and closed on April 17 this year.

dassa@sph.com.sg