Housing and Construction Bureau pointed out in a notice issued by the May 9th to the developer who purchased the bid documents that the bid deadline for this site was postponed from the original May 22 to September 11th. This is to give potential bidders more time to prepare for bids.
Currently, information on the Housing and Development Bureau website shows that the bid deadline for this site is 12:00 noon on September 11.
One of these examples is the commercial and residential area of Jalan Anak Bukit. At that time, the government extended the bid deadline from March 30 to June 29, 2021.
The Kampung Bugis white lot launched in 2019 has caused the government to delete this lot from the reserve list due to the delay in completion of the soil restoration project, and re-discuss the phased development plan of the plot section.
In addition to the private home and retail part, the development project in this area also includes public bus conversion stations and hawker centers, which is an important part of the development of Zhenchalu District. Analysts pointed out that if we look at the long-term development of the overall region, the extension of the bid period of a site for several months will have little impact on regional development.
Shen Zhenlun, president of Yidi Industrial Consulting (ETC), took the white area of Kampong Bugis as an example, indicating that the conditions of the area itself and the progress of other projects around it may affect the difficulty and progress of development work. It is reasonable to extend the bidding period as a result.
Housing and Construction Bureau has not yet responded to relevant inquiries from Lianhe Zaobao.
This is not the first time the government has postponed the bid deadline. Li Side, senior data analysis director of Huttons, said that during the COVID-19 pandemic, the outlook for the economic and real estate market is unclear, and the government has actively postponed the bid deadline, giving developers more time to evaluate the location.
The government has extended the bid period for commercial and residential areas in Chencharu Close to four months to give developers more time to prepare bids.
This is believed to be the first bidding area with a one-year bidding period.
Housing and Construction Bureau is responsible for bidding activities in the Zhenchalu Lane area in Yishun.
This time, the bidding period for the Zhenchaluan area is extended, and one of the reasons is believed to be related to the instability of the global economic situation caused by the US tariffs. "At present, the impact of tariffs on interest rates and building materials is uncertain. They may rise in the coming months."
Another reason is most likely because the site conditions are not suitable for construction projects, such as underground sewage pipes and ditches projects that have not been completed.
This is the second largest private housing project in Yishun area, second only to North Park Residences.
This site is one of the selected areas under the Government Land Sales Plan (GLS) in the second half of 2024, and it is expected that 875 private housing units can be built. The total floor area of the area is up to 96,007 square meters, at least about 78% must be used for residential purposes, and the commercial floor area is up to 12,600 square meters.