Serious 5 Towkays Tried To Lowball PAP! Offer Only $640 psf To Develop Jurong Real Estate!

[JohnTan]

SINGAPORE - The tender for a 99-year leasehold master developer site in the up-and-coming Jurong Lake District was not awarded as one of the two bids received from the sole tenderer was deemed too low by the authorities.

The other bid did not make it to the second stage of the tender, where shortlisted concept proposals are assessed on price alone.

The tendered price of $6,888.90 per sq m of gross floor area for the shortlisted proposal was assessed to be too low, the Urban Redevelopment Authority (URA) said on Sept 13.

The price is equivalent to a bid of $640 per sq ft per plot ratio (psf ppr).

This works out to a land price of about $2.5 billion for the 6.5ha Government Land Sales white site, which spans 365,000 sq m of gross floor area and consists of three plots.

Designated for office, residential and commercial development, the site received two bids with different concept proposals from a consortium at the close of the tender on March 26.

The consortium comprises five real estate heavyweights – CapitaLand Development, City Developments (CDL), Frasers Property, Mitsubishi Estate and Mitsui Fudosan (Asia).



https://www.straitstimes.com/singap...t-awarded-consortium-s-bid-deemed-too-low-ura

 

[millim6868]

Lol, papiges still tell u affordable,all want money to justify pspigs pay ,lol

 

[laksaboy]

Yep, the idyllic and tranquil atmosphere of the Jurong Lake is truly dead.

 

[in3deep]

Pap saying the are bringing price of real estate down while they themselves want high money for land, lol

 

[firehyrant]

Pap saying the are bringing price of real estate down while they themselves want high money for land, lol

PAP is a money face political party.

 

[eatshitndie]

another case of $6.9k per sqm. sinkie towkays must be following 69 techniques from sbf too much. if price is offered at $699 per sqft perhaps authorities will feel the soixante neuf effect and may open their legs for a good lick?

 

[KingFook Sr]

Pap saying the are bringing price of real estate down while they themselves want high money for land, lol

The true colours of the PAP is exposed again.

 

[JohnTan]

Pap saying the are bringing price of real estate down while they themselves want high money for land, lol

Real estate prices are tied directly to sinkies' reserves. To sell prime Jurong land at $640 psf is akin to raiding the reserves and stealing from all sinkies.

 

[Pinkieslut]

Fuck these towkays!

 

[syed putra]

Fuck these towkays!

Normally it's f#"k PAP. Looks like the situation is changing. People are raising their anger at businesses.

 

[congo9]

Real estate prices are tied directly to sinkies' reserves. To sell prime Jurong land at $640 psf is akin to raiding the reserves and stealing from all sinkies.

Jurong is not prime.
It's actually spreading the wealth to the citizen by entering low bid by some of the PAP towkay

Let me explain why ,if the district is successful. The towkay will make money. They will hire more Singkie because PAP MOM policy has strict policy of hiring FT. In turn, the quality of life will goes up.