GuocoLand's (SGX:F17) indirect wholly owned subsidiary, GLL B, was awarded a land parcel at River Valley Green by the Urban Redevelopment Authority of Singapore for a bid price of SG$627.8 million.
The 99-year leasehold parcel has a gross plot ratio of 3.5 and a land area of 11,736 square meters, according to a filing with the Singapore Exchange on Thursday.
The company plans to develop the parcel into a high-end waterfront development comprising two towers with commercial shops located at the first story.
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