HDB has accepted an application from a developer to put up a residential land parcel at Sengkang West Avenue for public tender.
The land parcel is under HDB’s Reserve List system.
Under the system, the government will put up a site for tender if it receives an application from a developer who commits to bid for the site at or above the minimum offer price acceptable to the government.
In this case, the minimum offer price for the Sengkang site is S$70 million.
HDB will launch the tender for the site in about two weeks’ time.
The site, with an area of about 183,000 square feet, is meant for a condominium development with a 99-year lease.
Source : Channel NewsAsia – 28 Dec 2009