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Bids for Ubi industrial site 'too low', says HDB

Consultant says rejection not in line with govt's intention to bring down prices

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Published Thu, Oct 29, 2015 · 09:50 PM
The five bids

Singapore

THE Housing & Development Board (HDB) on Thursday said that it has not accepted any bids for an industrial development site at Ubi Avenue 1 because "the prices offered were too low". This surprised at least one consultant.

The Ubi site was launched for tender on June 30 this year. Situated just next to StarHub Green, it is zoned 'Business 1', with a site area of 0.6 hectares, a maximum gross plot ratio of 2.5, and a lease term of 30 years.

HDB

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