HDB awards tender for Tampines site to Sim Lian Land

The Housing Development Board (HDB) has awarded the tender for the site at the junction of Tampines Avenue 5 and Tampines Central 8 to Sim Lian Land.

The property developer submitted the highest bid at some S$178 million. This translates to about S$253 per square foot.

The 32,000 square metre site is designated for public housing under the Design, Build and Sell Scheme (DBSS).

It was launched in June and the tender closed at noon on August 3.

A total of 5 bids was received.

Under the DBSS, land for public housing development is tendered out directly to private developers by HDB on a 99-year lease.

The successful bidder will undertake the entire development – from planning, design and construction, to the sale of the flats.

Source : Channel NewsAsia – 6 Aug 2010

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