Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/173331
Title: VARIABILITY IN THE URA SALE OF SITES PROGRAMME TENDER BIDS
Authors: WEE BOON LEONG
Keywords: Sales of Sites Programme (SOSP)
Urban Redevelopment Authority (URA)
High tender prices
Variability
Factors
Quantitative measures
Perception
Issue Date: 1992
Citation: WEE BOON LEONG (1992). VARIABILITY IN THE URA SALE OF SITES PROGRAMME TENDER BIDS. ScholarBank@NUS Repository.
Abstract: The Sales of Sites Programme (SOSP) has evolved from an instrument employed by the Urban Redevelopment Authority to redevelop the Central Area, to become the most significant vehicle for releasing state lands to sustain the rapid economic growth of the country. However, the SOSP is not without flaws. The methodologies and strategies of its implementation have constantly been questioned and criticised. The high tender prices experienced in the SOSP appears to be the major problem. Repercussions to the property market may result from the high tender prices; raising the prices of properties in all sectors and setting new benchmarks. It is suggested that the variability within the tender bids may serve to explain the occurrence of high tender prices. This dissertation seeks to quantify the variability in the SOSP tender bids and therefore enable factors affecting the variability to be identified by a quantitative (statistical) method. It is hoped that a better understanding of these factors will help to minimise the variability in the tender bids, and indirectly lower the high tender prices experienced in the SOSP. This dissertation relies on two main sources of data, namely, past tender bid records from URA and interviews carried out with professionals from the real estate industry. The past tender bid records are subject to statistical analysis and the results are compared with the observations made in the interviews. The study concludes that the variability within tender bids can be quantified by a set of quantitative measures of dispersion. It also identifies two factors that affect the variability within tender bids significantly (type of development and the length of the tender preparation period). The results depict that variability within tender bids is very much affected by the perception of developers on the change in the bidding circumstance.
URI: https://scholarbank.nus.edu.sg/handle/10635/173331
Appears in Collections:Bachelor's Theses

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