General Announcement::AWARD OF TENDER FOR RESIDENTIAL SITE AT PINE GROVE (PARCEL B)

Issuer & Securities

Announcement Title: General Announcement
Date &Time of Broadcast: 16-Nov-2023 17:51:55
Status: New
Announcement Sub Title: AWARD OF TENDER FOR RESIDENTIAL SITE AT PINE GROVE (PARCEL B)
Announcement Reference: SG231116OTHRW7SM
Submitted By (Co./ Ind. Name): Kimberley Lye Chor Mei
Designation: Company Secretary
Description (Please provide a detailed description of the event in the box below): The Board of Directors of Sinarmas Land Limited ("SML" or the "Company" and together with its subsidiaries, the "Group") wishes to update that Golden Ray Edge 3 Pte. Ltd. (50% effectively owned by MCL Land Limited and 50% effectively owned by SML) had entered into a bid for a residential development site at Pine Grove (Parcel B) (the "Site") through the Urban Redevelopment Authority (URA) Government Land Sales program. The Site has a land area of 25,039.2 square meters with maximum permissible gross floor area ("GFA") of 52,583 square meters and was offered for sale by tender on 99-year lease term ("Tender").

SML is pleased to announce that Golden Ray Edge 3 Pte. Ltd. was awarded the Tender for the Site at a tendered price of SGD692,388,000.00 (equivalent to SGD13,167.53 per square metre of GFA).

By Order of the Board
SINARMAS LAND LIMITED

Robin Ng Cheng Jiet
Director
16 November 2023