Sign Of Our Time - Be Prepared!!!

[theblackhole]

Lone bid rejected by URA

THE Urban Redevelopment Authority (URA) has rejected the only bid submitted for a transitional office site at Mohamed Sultan Road as the price offered was too low.

The lone bid of $4.65 million, which works out to $502.3 per sq m, was put in by RSP Architects Planners & Engineers (Pte) Ltd.

The tender for the 6,176.4 sq m site was launched on Aug 19 and closed on Oct 14.

The Land Parcel was offered for sale on a 15-year lease.

 

[tommy]

Just because it's low, it is rejected? What is the point of bidding then?

Besides, it's only 15 years lease, 15 years is a short time

 

[makapaaa]

Just because it's low, it is rejected? What is the point of bidding then?

Besides, it's only 15 years lease, 15 years is a short time

This shows that land price in Peesai is subjected to market forces i.e. price forced on the market by 1 Familee.

 

[theblackhole]

like that! one bid also cannot meh? lower tender will be translated into cheaper housing units for singaporeans mah. why object? why reject?

is this not good for the welfare of singaporeans? keeping the land cost so high??? only 15 years only what!