City Developments, MItsui Fudosan make $816m bid for Singapore-based site

A joint venture between City Developments Ltd and Japan’s MItsui Fudosan has bid for a site in Singapore’s District 10, along Zion Road, according to media outlets.

The bid is estimated to be S$1.1 billion ($816 million) for the site, which is designated for the development of condominiums and retail space.

A decision on the award of the tender will be made after the bid is evaluated, said the Urban Redevelopment Authority (URA).

If the joint venture is awarded the tender, the project will consist of a mixed-use project, comprising two blocks, one 69 stories and another 64, with about 740 residential units and retail, and a third building, totaling 35 stories with approximately 290 units, reported Channel News Asia.