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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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.
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