Holland Road is set to have a new look and present a different experience following the bid won by Far East Organization. A development site that is set to control both commercial and residential is expected to be an icon of its own kind. Even though the completion was very tight among the developer, the winner carried the day with up to of $1.213 billion which was the highest among all the bidders.
The move was declared by the Urban Redevelopment Authority as they made it clear on the winner since five tenderers had been shortlisted. The tender for One Holland Village Far East that closed in March was one of the most competitive and had different dynamics applied in it. Urban Redevelopment Authority had made the process different as two envelopes were expected from the bidders. The one for the tender price was separate from that of concept proposal and the envelope that had concept proposal was opened in March when the tender closed.
One Holland Village Holland Road attracted a unique form of competition as some of the companies had presented more than one bid with different proposals. The favor had fallen on the Far East partnership since they had submitted three bids as compared to three other competitors who had submitted 2 bids each.
The governing authority URA didn’t show any form of favoritism as all the tenderers were given the same opportunity to defend the concept presented. This was done before a committee that had been formed by URA and thereafter the price envelopes by the tenderers were opened. This was the last stage and a moment to declare the winner as it was clear that the best bidder will carry the day and be awarded the tender.
URA was open at the final stage declaring the best bidder for One Holland Village had not only given the highest price but also structured the concept in a compelling manner. It’s now clear that the 99-year leasehold that has been awarded will be under direct control of the duo Sekisui House and Sino Group. The tendering process done was very transparent with the winning bidder showing a clear gap in the amount offered when compared with the other 4 that were shortlisted. The concept by the best bidder also showed that the Holland Village will get minimal disruption with the development integrating smoothly with the existing state.
The nature of development expected in Holland Village will be all inclusive from Commons Square, Communal Green, and the Pocket Park. The public space that will exist in the development will also see different walkways connecting it to the surrounding.…