At the start of this year, URA tendered plot of land along the Holland road to be used as a commercial and residential development property. The upgrade is part of the many ways through which the authority is trying to refurbish and improve the countenance of the area which has been characterized by poor roads and residential sites. Van Holland is set to benefit from this expansion as the development by Koh Brothers is located right in the heart of Holland Village.
Holland Village Expansion to Include More Shopping
Holland Village Way street will be constructed on a 23000 square meter parcel of land which is located directly behind Lorong Mambong. Of 23000 Sq., 13500sq will be set aside for residential use, and the rest be used to construct over 570 units houses. The land has been leased for 99 years. Here are the five things that you need to know about Holland Village.
Tenders were required to submit two type of envelope for the project. Developers were under an obligation of offering their unique development plan and later their bid price. The emphasis was to select the best developer who had the exceptional development design for Holland village expansion.
Holland Village Expansion To Have Residential and Commercial Units
The winner of the Holland village expansion is required to pay a sum of as $2.5 billion effectively for the entire site. Many developers have regardedHolland village expansion as one of the express success because of its prime nature and ability to give returns within the shortest time possible if they win the tender.
Preserve Heritage at Holland Village
Over the past decades, Holland village has been on record for the loss of its culture. To regain its status, winners of Holland village expansion project are required to ensure that they develop the parcel of land in line with the community’s identity and preserve its image that has been there over a long period. This includes the construction of coffee shops and pubs among others.
The project will take longer to be completed
Due to the complexity and ambiguousness of the Holland village expansion project, developers are certain that it will take more than five years to be commissioned.
Chinese developers engaging in non-residential projects
Reports have it that not only are Chinese developers interested in the residential development about Holland village expansion but also have a great taste of getting involved in the construction of non-residential buildings within the Holland village. They have made many bids for the land.