CEL Development was awarded the 7,946.2sqm hotel land site at Jalan Bukit Merah/Alexandra Road under the Reserve List of the Government Land Sales Programme. URA had, on 22 September 2011, accepted a successful application for the site to be put up for sale. The site, was also the ex-SAFRA at Bukit Merah, was offered for sale on a 99-year lease.
CEL Development is a wholly owned subsidiary of Chip Eng Seng Corporation Ltd, a public listed company in Singapore since 1999. Their top bid of $189m, works out to be $8,494.76 psm based on the maximum permissible GFA of 22,249sqm.
The land parcel is located at the junction of Alexandra Road and Jalan Bukit Merah at the fringe of the city centre. Right besides Ikea and with Alexandra Village, Anchorpoint and Queensway Shopping Centre walking distance away, the hotel land site will avail its guests ample food & beverage and entertainment choices.
It is also conveniently linked to the rest of the island via Ayer Rajah Expressway and is served by the nearby Queenstown and Redhill MRT Stations.
In addition, the hotel land site is located near major tourist attractions like Orchard Road, Mount Faber, Vivo City and Sentosa. Business travellers will also enjoy the close proximity to the businesses and hotels in Central Business District and Marina Bay, which are just 15 minutes drive away.