The tender for a plum business as well as domestic site at Holland Road in District 10 shut on Tuesday after drawing in strong rate of interest from developers. A total amount of 15 proposals were submitted for the about 247,214 sq feet story the initial sale site of the Holland Town Expansion. It was launched offer for sale by the Urban Redevelopment Authority (URA) using the dual-envelope principle and also rate tender system on 30 November 2017. Numerous prominent developers put in greater than one proposal with different concept proposals, with joint ventures and consortiums.
Only the envelopes containing idea proposals were opened yesterday, and will be first evaluated by a Concept Evaluation Board based upon numerous standards consisting of layout principle, top quality of public realm and also track record. Acceptable concept propositions will then relocate into the second phase, where URA will examine the cost envelopes. The site will be awarded to the tenderer with the highest proposal cost. The site has an optimum gross flooring area of 642,766 sq feet, which concerning 145,312 sq ft has been set aside as retail space. Supplied on a 99-year lease, it might yield 570 real estate devices. The land parcel is located close to Holland Town MRT terminal,Signature Yishun, Holland Village Market & Food Centre and also institutions.