The Housing and Development Board (HDB) will launch the public tender for a residential site at Bukit Panjang later this week.
HDB says it has accepted an application under the reserve list system from a developer to put the land parcel up for tender.
Under the reserve list system, the government will put up a reserve list site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of five per cent of the bid price, to bid for the site at or above the minimum price which is acceptable to the government.
The 99-year land parcel for a condominium development has a site area of about 244,000 square feet and a permissible gross floor area of 513,000 square feet.
The minimum offer price for the site is S$62 million.
Source: Channel News Asia, 20 July 2009