Buying houses is never an easy task. People need to work hard a lot to rent or own a place of their own where they could live their life with their families. Everyone would have once desired about having their own dream house but sadly it is not always satisfied. The developer for One Holland Village at Holland Road is Far East.
One Holland Village at Holland Road
There was an auction held that was led by the Organization of Far East on the Holland Road site. Far East Organization was the winners of the bidding of the site for $1.213 billion or $1,888 per square foot per plot ratio (psf ppr). This was even their own highest bidding which they had ever
One Holland Village URA Concept Tender by Far East
One Holland Village was decided to get divided in 3 zones and public spaces. The residential area and the commercial area at the Holland Road site have been given to the partnership of the Organization of Far East, Sekisui House and Sinoland according to the Urban Redevelopment Authority (URA). Many companies tried very hard so that their tender could pass in the Holland Road site. In total, 15 proposals with different concepts were passed by 10 tenderers. Some of the companies had passed multiple tenders so that the chances of their tender’s selection increase. Out of 15, only 5 tenders were able to pass the criteria which were set by the Concept Evaluation Committee (CEC).
URA Tenders for One Holland Village Site
URA had said that the winning bid for One Holland Village Condo was the highest of all the five bidders for tenders that were shortlisted. Four other bids that were shortlisted came from the following: The consortium of Hong Leong Holdings, TID, Guocoland and Hong Realty who had placed a bid of $1.060 billion or $1,651 psf ppr. The partnership of Qingjian Realty and Perennial Real Estate Holdings placed a bid of $1.05 billion or $1,642 psf ppr. The partnership of Hotel Properties and Capitaland placed a bid of $1.019 billion or $1,584 psf ppr. The partnership of Landlease and Pontiac land placed a bid of $951 million or $1.479 psf ppr. URA looked properly at all the 5 tenders that were selected and found that they had worked ideally and understood the concept of the site.