Tender for Zion Road B site could see bids reaching up to $700m: analysts

The tender for Zion Road will likely attract one to two bidders and receive a top offer ranging from $644m to $700m, according to PropNex.

The Urban Redevelopment Authority on Monday launched the tender for Zion Road , making the site that was previously on the reserve list, now available for sale. In a surprise move last month, a developer committed to participate in the tender and submit a minimum bid price of at least $604.6m.Wong said the joint venture between CDL and Mitsui Fudosan will likely participate in the tender to maintain their lead in the area.

“This site is in a plum location just minutes' drive away from the CBD. It is close to Great World City mall, the upcoming retail space at Zion Road and Zion Road food centre. It is a short walk to Havelock and Great World MRT stations. River Valley Primary School is within 1km of the site,” Huttons senior director for data analytics at Lee Sze Teck said in a note Monday....there are many ways you can work with us to advertise your company and connect to your customers.

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