Developer agrees to bid not less than $220.7m for the 99-yr leasehold plot.

Developers continue to trigger the release of sites from the Government Land Sales programme’s reserve list.

The Urban Redevelopment Authority (URA) yesterday announced a successful application for a 99-year leasehold condo site on Alexandra Road near Redhill MRT Station and next to CapitaLand’s Metropolitan project.

The developer who made the application - who was not identified - has agreed to bid not less than $220.7 million, or $489 per square foot (psf) of potential gross floor area.

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