Tender closing date for home site at Tampines Avenue 10 delayed to 16 July

Post announcement of new MAS rules.

In a release, the Urban Redevelopment Authority (URA) announced that the tender closing date for the residential site at Tampines Avenue 10 (Parcel B), originally scheduled to close on 2 July 2013, will close on 16 July 2013. 

The Monetary Authority of Singapore (MAS) announced new rules for MAS-regulated financial institutions to enhance credit underwriting practices for property loans granted to individuals and encourage financial prudence among borrowers. 

The extension of the tender period for the residential site at Tampines Avenue 10 will provide more time for prospective tenderers to take into consideration these new rules when submitting their bids.