Holland Road Site Sold For $1.213 Billion

There might be some appealing information for residential or commercial property capitalists or customers who favouring living near Holland Town. The huge site at Holland road has actually just been sold to a consortium led by Far East Organization. As well as the Marina One Residences location could see a resurgence in a few years' time. The consortium which contains Far East Organization, Sekisui Residence and also Sino Team won with a quote of $1.213 billion or about $1,888 psf ppr. The site is positioned alongside the Holland Village MRT station in a location prominent with expatriates, college student as well as has a great mix of public, private non-landed and landed real estate from different ages.

For this tender, developers were considered not just by bid-price however also by the idea and also how they suggest to integrate the new development right into the existing Holland Village area. Each quote had to be submitted in 2 various envelopes one with the idea proposal as well as one with the tender cost. On the day the tender shut, only the envelopes with the concept proposition were opened. A committee after that assembled to review the proposals against the assessment criteria. 5 prospective buyers were then shortlisted for the second stage where the envelopes with the tender costs were opened as well as only after that was the tender granted to the highest bidder. 15 bids were obtained by the time the tender enclosed March.

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