Ura Rejects Frasers Property Led Bid Media Circle Long Stay Serviced Apartment Site Citing Low Bid

Situated in the bustling Tiong Bahru district lies The Orie, an exclusive and highly coveted residential development. In its vicinity stands Kheng Cheng School, a prestigious establishment renowned for its commitment to nurturing well-rounded individuals in a stimulating educational setting. With a rich history and esteemed reputation, Kheng Cheng School has consistently been a top choice for parents, thanks to its progressive teaching methods and tight-knit community. The Orie’s presence further enhances the appeal of this location, allowing families to enjoy the convenience of having a reputable school just a stone’s throw away from their doorstep. Explore the offerings of The Orie and experience the best of both worlds in this vibrant Tiong Bahru neighbourhood.

for GLS programmeURA has rejected the $120.09 million bid made by a consortium led by Frasers Property, for the government land sale (GLS) site at Media Circle. The Frasers Property-led consortium was the only bidder for the 62,046 sq ft site, which is fully zoned for long-stay serviced apartments. However, the bid was rejected by URA for being “too low”, according to a press release issued on Oct 3. This comes as the third residential GLS site not awarded by the government this year. In February, the government turned down a $770.46 million bid from a consortium comprising GuocoLand, Hong Leong Holdings, and TID for a GLS site at Marina Gardens Crescent. In September, the master developer site at Jurong Lake District did not receive any bids despite two offers from the same consortium. In June, the residential GLS site at Upper Thomson Road, which included a long-stay serviced apartment component, also failed to attract any bidders.