No bids for Jalan Besar Plaza en bloc tender but it receives one expression of interest

NEW Wave Holdings on Monday said that the collective sale committee for its property Jalan Besar Plaza has confirmed that no bids were received at the close of the tender exercise on Nov 10.

That said, the committee received one letter from a developer expressing interest to purchase the mixed development.

The marketing agent Huttons Asia will thus follow up on this, along with any other potential buyers that have expressed interest in the purchase of the development.

The Business Times had earlier reported that the discussion between both sides was not about the price, but rather the land use.

While no sale has been concluded at the close of the tender, the law prescribes that the committee can still enter into a private contract with a purchaser within 10 weeks.

New Wave's counter closed unchanged at S$0.015.