Stock News: City Dev may win bidding for site in sentosa!

City Developments Ltd may win the bidding for a hotel, commercial and condominium site on Sentosa island, the Business Times reported, citing unnamed sources. The company offered over 300 mln sgd for the 99-year leasehold site, outbidding Lippo Group, sources told the paper. The site, which can be developed with a maximum gross floor area of 718, 588 square feet, will have a 320-room hotel, a 236-unit residential condominium and 61,700 square feet of retail space, the source said. Both City Developments and Lippo had tapped Westin as partner for the hotel development, according to the report