Highest bidders, Far East Organization and Sino Group, bag tender for commercial and residential site at Jalan Anak Bukit
The Urban & Redevelopment Authority (URA), yesterday (30 Aug) awarded the tender for the commercial and residential site at Jalan Anak Bukit to FE Landmark Pte. Ltd., FEC Residences Trustee Pte. Ltd. (in its capacity as Trustee-Manager of FEC Residences Trust) and FEC Retail Trustee Pte. Ltd. (in its capacity as Trustee-Manager of FEC Retail Trust).
Land parcel at Jalan Anak Bukit
Located at the junction of Upper Bukit Timah Road and Jalan Jurong Kechil, the 3.22ha land parcel is next to the Beauty World MRT Station. The land parcel is envisaged as a distinctive and attractive mixed-use development with an integrated transport hub that enhances the identity of Beauty World as an urban green village with excellent public transport connectivity.
Besides the integrated transport hub, the proposed commercial and residential site development will include complementary uses such as residential, retail, food and beverage, and other compatible uses. This will add to the diversity of amenities and contribute to the vibrancy of the Beauty World area.
Concept and Price Revenue tender
URA said that a Concept and Price Revenue Tender approach was adopted by the Government to shortlist quality development concepts that are attractive and respond well to the surrounding context, with meaningful integration of amenities connected through a seamless network of pedestrian-friendly streets and well-designed public spaces.
At the first stage of the tender process, those Concept Proposals that had 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 commercial and residential site would then be awarded to the tenderer with the highest bid among the tenderers with shortlisted Concept Proposals.
Details of tender
The Concept and Price Revenue tender for the commercial and residential site at Jalan Anak Bukit was launched for sale on 30 June 2020 and its tender had closed on 29 June 2021. A total of five Concept Proposals from three tenderers were received for the site, said URA
Evaluation of Concept Proposals
URA said all tenderers were given the opportunity to present their proposals to the CEC. After evaluation, the CEC concluded that the three Concept Proposals submitted by the following tenderers had substantially satisfied the evaluation criteria and should proceed to the second stage of tender evaluation:
- Perpetual (Asia) Limited (in its capacity as trustee of Mercatus Commercial Trust I) and Winchoice Investment Pte. Ltd. (Tender Ref. 25)
- FE Landmark Pte. Ltd., FEC Residences Trustee Pte. Ltd. (in its capacity as Trustee-Manager of FEC Residences Trust) and FEC Retail Trustee Pte. Ltd. (in its capacity as Trustee-Manager of FEC Retail Trust) (Tender Ref. 33)
- Dragon Commercial Pte. Ltd. and Dragon Residential Pte. Ltd. (Tender Ref. 17)
URA added that all the three shortlisted tenderers submitted strong overall development concepts and architectural designs that responded appropriately to the site context. The schemes drew inspiration from Bukit Timah Hill and the surrounding amenities to inform the proposed building forms, layouts, massing strategies and architectural expressions.
URA said they demonstrated strong and effective integration of public spaces and the various uses, thereby creating attractive and accessible public spaces and active street frontages with quality landscaping. The tenderers and lead architects for these schemes also have good track records in designing, developing and managing mixed-use developments that are integrated or co-located with a transport node.
Tendered land prices
In revealing the details of their price bids of the 3 tenderers in accordance with the Concept and Price Revenue tender system, URA said the Jalan Anak Bukit commercial and residential site is awarded to FE Landmark Pte. Ltd., FEC Residences Trustee Pte. Ltd. (in its capacity as Trustee-Manager of FEC Residences Trust) and FEC Retail Trustee Pte. Ltd. (in its capacity as Trustee-Manager of FEC Retail Trust) which submitted the highest bid of $1,028,333,333.00 among the three shortlisted tenderers.
Concept Proposal of the successful tenderer
The proposed mixed-use development will have an integrated transport hub with a bus interchange on the second storey, and civic and commercial spaces that span across the first three storeys along Upper Bukit Timah Road and Jalan Jurong Kechil.
The scheme demonstrates a well-conceived design strategy in its generously spaced building blocks with a well-considered tropical design response. The design featured commercial spaces that are naturally ventilated and well-integrated with a series of delightful and varied public spaces.
The frontages along Upper Bukit Timah Road and Jalan Jurong Kechil are lined with activity generating uses to create a lively street level pedestrian experience. A central atrium (‘Village Centre’) that is located in the heart of the development will be an attractive, naturally ventilated sheltered public space that can accommodate a variety of seasonal programming and community-based events.
The ‘Forest Gardens’ on the third storey fronting Upper Bukit Timah Road and Jalan Jurong Kechil consists of communal gardens that are publicly accessible and will contribute to the strong presence of greenery visible from the street level.
URA said that overall, the Concept Proposal by Far East Organization and Sino Group is compelling in its well-considered site planning, design response to tropical climate and integration of the various uses and public spaces.