Daily Archives: 10 Oct 2009

HDB to Sheng Siong: 6 wet markets must stay

They do not meet criteria for conversion into supermarkets

SUPERMARKET chain Sheng Siong, which is planning to take over six wet markets, has been told by the Housing Board that it cannot convert them into supermarkets.

The wet markets will have to stay because they do not meet the criteria for conversion into supermarkets, the HDB said yesterday.

Applications for such instances of conversion of use are assessed on a case-by- case basis, depending on the needs of residents, stall occupancy rate, operating hours and number of customers.

But while the HDB’s announcement should please residents who are loath to give up shopping in their neighbourhood wet markets, there is still a question mark over the stallholders’ livelihood. Continue reading

Serangoon Ave 3 site sold at $221.21m: URA

The Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Serangoon Avenue 3 to Intrepid Investments Pte Ltd.

The company submitted the highest bid of $221.21 million (US$158.84 million) in the tender for the site.

The 13,877.2 square metre (sqm) residential site has a maximum permissable gross floor area of 38,857 sqm.

Source : Business Times – 9 Oct 2009