The Urban Redevelopment Authority (URA) has awarded the tender for the Lentor Gardens site to a joint venture between GuocoLand (Singapore) Pte. Ltd. and Intrepid Investments Pte. Ltd. The tender for the site was launched in October 2022 and closed on April 4, 2023. Located in a residential area, the site spans across 21,866.7 square meters and is permitted for residential development. The maximum permissible gross floor area (GFA) for the site is 45,921 square meters, which means that the winning tenderer has paid $10,600.82 per square meter of GFA.