SINGAPORE - The conserved state property at 26, 28, 30, 32 & 36 Orchard Road is up for tender, and for the first time both price and quality are being taken into account.
The Singapore Land Authority said that evaluating the bids on these considerations will ensure a diversified and creative use of state properties and the introduction of new business concepts.
SLA added that the quality of the proposed concept will be a key consideration in determining the winning bid and the site may not be awarded to the operator that submits the highest bid price. The initial tenancy will be for a period of three years.
The property built after World War I is the last remaining street-block of buildings along Orchard Road.
SLA's deputy director of business planning and development Yap Eai-Sy said, "Strategically, the move towards price and quality tenders marks SLA's progression as a dynamic master-planner for the interim use of state properties and land. Recognising the changing times and environmental needs, we hope to be able to provide an expanded range of use for state properties and to encourage greater entrepreneurship."
The tender opens May 2.