The owners of Beauty World Plaza are putting up its site of 2,305.6 sqm for tender with a reserve price of $165 million. This development strategically situated next to the Beauty World MRT station which is conveniently close to many eateries and amenities. This site is zoned “commercial and residential” with a gross plot ratio of 3.0 times the site area according to the Urban Redevelopment Authority’s (URA) 2014 Master Plan. However, the agent of Knight Frank Singapore has reported that there has been a submitted outline application to the URA to change the use of the residential component to serviced apartments.
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