Virtually the size of 14 football fields, a sprawling 8.2 ha white website at Kampong Bugis about the Government Land Sales (GLS) book list was made readily available for application by the Urban Redevelopment Authority (URA) on 5 December.
Meanwhile, the 50,000 sq m of GFA for its Kampong Bugis white website is going to be designated for complementary applications, which might comprise serviced apartments, retail, offices and community applications like a senior action center, in addition to recreational and sports facilities.
The whole precinct is expected to require 11 to 13 years to finish.
The white website, pictured by URA for a prospective waterfront residential precinct that’s car-lite, community-centric and sustainable, will be published for sale to your master programmer. Included in this project, the present Kallang Riverside Park will be improved with new public spaces to better serve the public.
To attract developer interest, URA demonstrated it has drawn up an”alternative scheme”, and it will be a flexible repayment scheme, and also a”phased-development approach” which permits the programmer to stage the development of the website in tandem with marketplace requirement with reduced upfront costs and hazards.
To guarantee that the programmer’s concept proposal is aligned with the government’s vision to the website, the idea and cost earnings tender strategy will be adopted, where theory proposals and tender costs are individually submitted by tenderers.
Only concept suggestions deemed persuasive will be shortlisted to move into the test’s second phase, which will then be dependent on cost only.
With this website, URA will present a modification to this idea and cost revenue tender strategy.
“Especially, a tenderer having an outstanding idea proposal identified in the very first concept evaluation stage is going to be provided the choice to top up its bid price to match the maximum bid cost amongst all of the shortlisted concept proposals at the next price point, in case the tenderer isn’t the maximum bidder,” said URA.
“This will be to ardently incentivise tenderers to draw exceptional concept suggestions, as they’d have a higher prospect of securing the tender when attaining the greatest possible growth results for both of these sites.”
But, URA explained the top-up option is only going to be provided”very selectively” to a couple of suggestions that are considered”incredibly outstanding among all collectible concept suggestions”.
If no outstanding suggestion is recognized, the award will be awarded to the maximum bidder.