08 Nov '11, 4am

Land sale runs into a ditch, as does Singapore’s competitiveness

Land sale runs into a ditch, as does Singapore’s competitiveness

This (above) is the plot of land that the Urban Redevelopment Authority (URA) said half a billion dollars was way too cheap. Last week, they rejected the sole tender bid offered for it. Meanwhile, office rents in Singapore are now the sixth most expensive in the world, jumping about 50 percent over 2010, as you can see from this report in Economist magazine: The plot of land in question (ivory-coloured in the map below) is close to Paya Lebar metro station. While that’s a huge advantage for commercial space, it brings its own complications construction-wise, because a tunnel runs underground along its western side, as you can see from this map: You will have noticed immediately from the photo and the map that the site is also bisected by a concrete canal. Any sane developer would take seriously into consideration the difficulty of building on a site with tunnels and a cana...

Full article: http://yawningbread.wordpress.com/2011/11/08/land-sale-ru...

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