Aerial view of the residential site at Hillview Rise. (Photo: URA)
Despite having technical conditions, a residential site at Hillview Rise off Upper Bukit Timah attracted nine tender submissions from eight bidders at the close of the state tender yesterday (3 May) under a dual-envelope concept and price tender system.
A consortium comprising Areca Realty and CDL Constellation, a wholly-owned subsidiary of CDL, submitted two separate tenders with different concept proposals.
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Other consortiums that submitted tenders for the site include those between Changi Properties and Sing Holdings, Hoi Hup Realty and Sunway Developments, Intrepid Investments and Garden Estates, and Yanlord Singapore and Soilbuild Group.
Meanwhile, some developers opted to bid on their own, such as CELH Development, CSC Land and Qingjian Realty.
JLL national director for research & consultancy Ong Teck Hui noted that this level of participation is not “indicative of particularly strong interest in the tender and neither does it reflect dampened demand due to the concept and price tender nor the technicalities of the requirements”.
In fact, the participation level in the tender shows firm demand for sites by developers even as they clinched many sites in recent collective sales and state tenders.
“Interest level in the subject site is positive since quite a number of parties are prepared to compete for the site with the fairly technical evaluation criteria under which construction productivity plan takes up 75 percent of the evaluation weightage,” Ong said.
“This criterion takes into account the overall construction productivity concept and level of prefabrication and integration across architectural, structural, mechanical, electrical and plumbing works.”
With a maximum permissible gross floor area of 430,879 sq ft, the 153,591 sq ft site was launched last December under the concept and price tender system, in which only the envelopes with concept proposals were opened.
The Concept Evaluation Committee, chaired by the Building and Construction Authority, will shortlist proposals that demonstrate comparable or higher construction productivity outcomes based on the evaluation criteria specified in the tender conditions for the site.
“Only tenders that meet the evaluation criteria will be considered for award,” said URA.
It added that the site will be awarded to the tenderer with the highest bid price among those with acceptable concept proposals.
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Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
