To award or not to award, what is the question?

IT’S been almost two weeks since the most recent government land tenders closed with lower than expected bids and poor participation. Normal programming suggests that tender decisions are usually announced soon after the close of the tender. But this time, it seems, is different.  

In February, the sole bid for a Marina South area parcel was rejected by the Urban Redevelopment Authority as “too low”. The decision was not altogether unexpected, given that the bid was nearly 30 per cent lower than a nearby, similar-sized plot sold last year. The result was announced three weeks after the tender’s close.   

Not awarding tenders puts the plots out of use for now, and could eventually cramp supply, Leslie Yee argues in The Level Ground this week. The Marina Gardens Crescent parcel, for instance, would have yielded 775 residential units.