The 2014 Urban Redevelopment Authority Master Plan was to close the Holland Village Extension first land parcel concerning the bidding exercise where they were focused on expanding Holland Village to be an identity node. The things concerning the new site are here; Holland Village Extension can be found near Lorong Mambong along Holland Road. It’s on 22,967 sq meter area, and its gross floor area is 59,715 sq meters where retailing space is 13,500 sq meters. For the residential use, there are 570 housing units in the site. The land has a leasehold of 99 years.
Holland Village Extension by URA
This system allows interested developers to have their development concept submitted, where the bid price follows later. In the first bidding round, Concept Evaluation Committee (CEC) of URA goes over those concepts where they select the qualified ones for the area. The development that will benefit from the Holland Village Extension will be One Holland Village by Far East.
The developers who pass this step are only ones to move to step of revealing their bid prices. Holland Village finds it worth for emphasizing on design and concept since it is a sign of more concern on extending Holland Village apart from building disparate houses and shops assortments on the hotspot.
Developers for Holland Village Extension
Here, the astronomy of price tag is revealed where the bidder who wins may pay around $2.5 billion. However, the developers may not pass this opportunity up. Many property developers consider Holland Village extension as a great success due to its location. The site is near MRT Station of Holland Village, and in food haven place that is, near Lorong Liput and Lorong Mambong.
Holland Village has had its own identity since long ago. It is a food haven which was the source of various famously-known beverages and food in Singapore. It had the first Palm Wine Bar just near the site. The first pancake place was Batter Batter which was located in Holland Village too.
Holland Village Extension Near to Holland Village MRT Station
It had the Coffee club which was the best place ever and the first one even before Starbucks arrived. However, Holland Village identity started eroding where more is because of snobbish exclusivity. Now it is known for many eateries and as bars, despite being the lace for upstart F&B places among zany ideas. It’s our hope for the extension to have the experimental vibe be re-introduced with the development concept. The extension is hoped to at least bring back the Holland communal vibe. The URA needs various activities to be incorporated where people will be highly encouraged to interact and mingle.
The URA may take almost two months before it selects the winner. After the winner is known, he will be given a maximum of seven years for him to have the project fully completed. However, we should never lose focus, wait and see Holland having full impact and changes. Chinese developers impacted residential markets with aggressive and high land bids. The Chinese bidding for extension of Holland Village shows they may be powerful in great commercial markets and they aren’t confined to the Holland market.