Qingdao Construction Group Corporation has won a Housing and Development Board (HDB) tender to build public housing flats at a site in Bishan Street 24.
It submitted a tender price of S$135,888,777. The site is the fourth to be offered under HDB's Design, Build and Sell Scheme (DBSS) where the developer bids for the land, designs, builds and sells the flats as public housing.
The flats have a 99-year lease and will be offered to buyers under similar conditions as flats developed by the HDB.
On its completion, the HDB will handle the development site's lease administration, while the Town Council will manage the maintenance of its common areas and car parks.
HDB said this latest site is located in a middle-aged estate, with a wide variety of facilities. - CNA/so
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