Tag Archives: URA

Far East tops tender with bid 35% clear of field

Posted on 18 Sep 2009 | Comments Off on Far East tops tender with bid 35% clear of field

It plans Holland V-type shophouses, 150-200 apartments

The tender for a residential and commercial plot at the corner of Yio Chu Kang and Seletar roads yesterday drew 12 bids, with Far East Organization topping the list with an offer that outshone its closest competitor by a huge 35 per cent – possibly the widest margin at a state tender in recent years.

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Far East’s offer of $119.08 million works out to $376 per square foot of potential gross floor area – much higher than market expectations.

The second-highest bid, by a Centurion Properties unit, was $88.19 million or $279 psf per plot ratio (psf ppr).

Sim Lian, Soilbuild Group and Frasers Centrepoint bid in the $247 to $253 psf ppr range. Continue reading →

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Far East is top bidder for Yio Chu Kang/Seletar site

Posted on 17 Sep 2009 | Comments Off on Far East is top bidder for Yio Chu Kang/Seletar site

Far East Organisation has placed the top bid of $119.08 million or about $376 per square foot per plot ratio for a residential and commercial site at the corner of Yio Chu Kang and Seletar roads.

The tender attracted a total of 12 bidders, including Centurion RE, Frasers Centrepoint, Soilbuild Group, Sim Lian, GuocoLand and Teambuild.

NEWS RELEASE BY URBAN REDEVELOPMENT AUTHORITY
TENDER CLOSING FOR COMMERCIAL & RESIDENTIAL SITE AT YIO CHU KANG ROAD / SELETAR ROAD
1    The Urban Redevelopment Authority (URA) closed the tender for the commercial and residential site at Yio Chu Kang Road / Seletar Road today.
2    The site at Yio Chu Kang Road / Seletar Road was launched for public tender on 20 August 2009. It was originally on the Reserve List of the Government Land Sales Programme. URA had, on 7 August 2009, accepted a successful application for the site to be put up for sale. The site was offered for sale on a 99-year lease.
3    Please see Annex A for the particulars of the site and the details of the bids received.
4    This is not an announcement of tender award. A decision on the award of the tender will be made after the bids submitted have been evaluated. This will be publicised at a later date.

Source : Business Times – 17 Sep 2009

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