A prime albeit small commercial site in Raffles Place, The Arcade, on a site of about 21,900 sq ft, could be put up for collective sale soon.
Word on the street is that the price tag for the 20-storey office-and-retail building is around $3,000 per square foot per plot ratio (psf ppr), inclusive of development charges of $100 million-plus. This would suggest The Arcade's owners stand to pocket around $800 million.