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The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Margaret Drive to MCL Land (Regency) Pte. Ltd. The company submitted the highest bid in the tender for the site.

The residential site was launched for public tender on 10 November 2016. The tender for the site closed on 6 December 2016. The land parcel was offered for sale on a 99-year lease term.

Details of the awarded land parcel ;
Location : Margaret Drive
Allowable Development : Residential
Site Area : 4,809,8 m2
Maximum Gross Floor Area : 22,195 m2
Successful Tenderer : MCL Land Pte. Ltd
Tendered Price($psm of gfa) : S$238,390,301($10,740.72)

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Source: URA