GuocoLand's (SGX:F17) joint tender with TID Residential and Intrepid Investments for a land parcel at Faber Walk, Singapore, was accepted by the Urban Redevelopment Authority of Singapore, according to a filing with the Singapore Exchange on Tuesday.
The bid price for the land parcel with a site area of 25,795,4 sqm was SG$349.9 million and is expected to yield around 400 residential units.
Under the agreement, GuocoLand's subsidiary, GuocoLand Singapore has a 50% stake in the project.
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