HDB to launch tender for residential land parcel at Tampines Road

The Housing and Development Board (HDB) said on Tuesday it has accepted an application for a residential land parcel at Tampines Road under the Reserve List System.

The site, with an area of 2,662 square metres, is proposed for the development of landed or apartment housing on a 99-year lease.

It has an allowable gross floor area of 3,727 square metres and the minimum offer price for the land parcel is S$6.5 million.

HDB will launch the tender in about two weeks’ time.

Under the Reserve List System, the government will put up a listed site for public tender if it receives an application from a developer who commits to the minimum bid price by signing an agreement and paying a deposit of 3 per cent of the bid price.

Source : Channel NewsAsia – 23 Mar 2010

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