MCC Land to buy Singapore mixed-use site for $377.8m
Singapore’s Urban Redevelopment Authority has awarded the commercial and residential site at Meyappa Chettiar Road to developer MCC Land. An announcement was made on Aug. 20.
MCC Land submitted the highest bid in the tender for the site. The sales price was S$471.62 million ($377.8 million). The land parcel was offered for sale on a 99-year lease term and has an area of 173,831 square feet.
MCC Land plans to develop a mixed residential and commercial property with an estimated 685 condominium units.
MCC Land is a subsidiary of Metallurgy Corp. of China, which is listed in Hong Kong and Shanghai. The company is a property developer and engineering services provider in Singapore.