• Published Date: 22 Mar 2019

               The Housing & Development Board (HDB) has awarded the tender for the mixed use development site at Pasir Ris Central to Phoenix Residential Pte. Ltd. & Phoenix Commercial Pte. Ltd today.

     

    Land Parcel at Pasir Ris Central

     

    2          Located next to Pasir Ris MRT station, the proposed development comprising a commercial and residential development integrated with a bus interchange, a polyclinic and a town plaza, will offer seamless connection to public transport services and amenities for residents. The completed development will also serve as a community focal point. Details of the land parcel can be found in Annex 1.

     

    Concept and Price Revenue Tender

     

    3          In line with this vision, HDB adopted a Concept and Price Revenue Tender system to shortlist quality development concepts with seamless integration of amenities and well-designed public spaces. (See Annex 2 on the summary of evaluation criteria).

     

    4          At the first stage of the tender process, Concept Proposals which substantially satisfied the evaluation criteria were shortlisted by the Concept Evaluation Committee (CEC) to proceed to the second stage of tender evaluation. At the second stage, only the price envelopes submitted by the tenderers of the shortlisted Concept Proposals were opened for consideration. The site would then be awarded to the tenderer with the highest bid among the tenderers with shortlisted Concept Proposals.

     

    Details of tender

     

    5          The Concept and Price Revenue Tender for the subject site at Pasir Ris Central was launched for sale on 27 Aug 2018 and the tender was closed on 14 Dec 2018. A total of three Concept Proposals from three tenderers were received for the site.

     

    Evaluation of Concept Proposals

     

    6         All tenderers were given the opportunity to present their proposals to the CEC. After evaluation, the CEC concluded that two of the three Concept Proposals submitted by the following tenderers had substantially satisfied the evaluation criteria and could proceed to the second stage of tender evaluation:

    1. Laguna Garden Limited and Far East Commercial Trustee Pte. Ltd. (in its capacity as Trustee-Manager of Far East Commercial Trust

    2. Phoenix Residential Pte. Ltd. & Phoenix Commercial Pte. Ltd.

     

    Tendered land prices

     

    7          The price envelopes of the two shortlisted tenderers were opened and the details of their price bids are shown in Annex 3. In accordance with the Concept and Price Revenue Tender system, the Pasir Ris Central site is awarded to Phoenix Residential Pte. Ltd. & Phoenix Commercial Pte. Ltd. which submitted the highest bid of $699,999,999.99 among the two shortlisted tenderers.