URA awards Prince Charles Crescent residential site to Wing Tai-led consortium

URA awards Prince Charles Crescent residential site to Wing Tai-led consortium

The Editor
01/10/12, 04:57 pm

URA has awarded the tender for the residential site at Prince Charles Crescent to a consortium comprising Wing Tai Holdings, Metro Australia Holdings and Maxdin Pte Ltd. The consortium submitted the highest bid of $516.3 million, or $960.3 psf ppr. The price is considered by property analysts to be a record. In a press release, Wing Tai’s deputy chairman, Edmund Cheng said the project would be a “new, differentiated residential development in response to demand from a highly discerning mid-end segment of the market”.

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