Hillview Rise’ residential site along Upper Bukit Timah appeal 9 tender compliance from 8 bidders at the end of its state tender on May 3, 2018 under a cost tender system and dual-envelope idea.
A consortium consisting CDL Constellation and Areca Realty, a fully-owned auxiliary of CDL, proposed 2 separate tenders with various concept bids.
Some other consortiums that proposed tenders for the land parcel comprise those between Sing Holdings and Changi Properties, Sunway Developments and Hoi Hup Realty, Garden Estates and Intrepid Investments, as well as Soilbuild Group and Yanlord Singapore.
At the same time, some developers preferred to offer on their own, like the Qingjian Realty, CSC Land and the CELH Development.
Ong Teck Hui, the director for consultancy and research at JLL national stated that this stage of involvement is not “indicative of specifically extreme interest in the tender and no one of two does it show dampened demand as a result of the price tender and concept nor the minor details of the requirements”.
As a matter of fact, the involvement stage in the tender displays solid demand for sites by developers just as they assured numerous sites in current state tenders and collective sales.
“Involvement stage in the subject site is definite since several of parties are fitted out to contend for the site with the reasonably technical assessment basis under which construction work rate plan carry on 75% of the assessment weight age,” noted by Ong.
“This standard takes into account the whole construction work rate idea and level of integration and prefabrication across plumbing, electrical, mechanical, structural, and architectural works.
With an utmost allowable gross floor area (GFA) of about 430,879 square feet, the 153,591 square feet site was established last December under the conception and cost tender scheme, in which just the envelopes with conception bids were opened.
Managed by the eminent Building and Construction Authority, the Concept Evaluation Committee will range bids that presents equal or higher construction productivity upshots according to the assessment criteria detailed in the tender viewpoints for the site.
“Only tenders that outfit the assessment criteria will be well thought out for award,” as stated by the URA.
In addition, they noted that the land parcel will be bestowed to the tenderer with the top bid price out of those with adequate concept offers.