HDB tenders are formal invitations for organizations and people today to bid for various alternatives, including the tenancy of commercial spaces like stores and supermarkets, and land gross sales for residential and mixed-use developments. The process is managed by way of Formal portals which include GeBIZ and HDB Place2Lease. To participate, tenderers might need to get tender paperwork, which often can cost about $10 per set, from places much like the HDB Hub at 480 Lorong six Toa Payoh. Tender submissions, which may be electronic or guide, have to be created by a rigorous deadline. Analysis standards in many cases are dependant on a "Rate-Quality Method" (PQM), which considers factors beyond just the rental bid, such as the quality more info of the business concept, efficiency initiatives, and Group-centric systems. For land profits, a deposit of approximately 3% from the minimal price is necessary. The HDB reserves the ideal to not award a tender if bids are considered far too lower.