Bids for Florence Regency come in below independent valuation

Singapore

FLORENCE Regency, a privatised HUDC estate in Hougang, received three bids at the close of its public tender.

But the collective sales committee was not able to award the tender to the top bidder as the bid price, while above the reserve price of S$600 million, was below valuation, BT understands.

A valuation report was submitted by independent valuer C…