Lentor sites received only 5 bids: URA
Public tender closed four months after it was launched.
Public tender for two sites at Lentor Hills Road and Lentor Central, which have a lease period of almost 100 years, ended on 13 September 2022, the Urban Redevelopment Authority (URA) declared.
In an announcement, URA said the bidding was opened four months ago whilst the awarding for the successful tenderer will be announced in due time.
Amongst the tenderer for the lot at Lentor Central are Forsea Residence Pte. Ltd., Soilbuild Group Holdings Ltd. and UED Alpha Pte. Ltd, Tanglin Land Pte. Ltd., and GuocoLand Pte. Ltd. and Intrepid Investments Pte. Ltd.
The tendered sale price for this location ranges from $450m to $480m.
For the Lentor Hills Road, bidders are TID Residential Pte. Ltd. with $276m and Forsea Residence Pte. Ltd., Soilbuild Group Holdings Ltd. and UED Alpha Pte. Ltd with a tendered sale price of $232m.
Property experts said the bidding was underwhelming and below the average six bids