Sim Lian Land Pte Ltd has won the tender for the residential site at Tampines Ave 1/Tampines Ave 10.

The Urban Redevelopment Authority (URA) awarded the company the tender after it submitted the highest bid for the site.

The 31,740.4 square meter land parcel was offered for sale on a 99-year lease. Sim Lian Land put in a $302 million bid, translating to $4,530.79 psm/gfa. The site has a maximum permissible gross floor area (GFA) of 66,655 square meters.

The land parcel is the fourth residential site to be sold through the Confirmed List of the first half 2010 Government Land Sales (GLS) Programme. These four land parcels can potentially yield 1,710 housing units.

Four other residential sale sites, namely at Boon Lay Way, Simei Street 3, Sembawang Road and Upper Serangoon Road - which are all part of the first half 2010 GLS Programme - will be released for sale in March and April this year. These can produce another 1,215 housing units.