HDB receives two bids for Upper Serangoon Road DBSS site

The Housing Development Board (HDB) has received two bids for the sale of a site at Upper Serangoon Road.

The 20,000 square metre site is designated for public housing under the Design, Build and Sell Scheme (DBSS).

It was launched in October and the tender closed at 12 noon on Tuesday.

Kwan Hwee Investment made the top bid at S$155 million which amounts to about S$2,217 per square metre.

Meanwhile, Sim Lian Land bid S$113 million dollars for the site.

Under DBSS, land for public housing development will be 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.

HDB said it will evaluate the provisional tender results and announce the final results within the next two weeks.

Source : Channel NewsAsia – 30 Nov 2010

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