19 Jun '17, 3am

Greater emphasis on quality over price #propertynews #singaporeproperty #realestate

Greater emphasis on quality over price #propertynews #singaporeproperty #realestate

Caught in a property downturn, the construction industry has seen desperate firms bidding for projects at excessively low rates. In a bid to control such fee-diving, the government will soon pilot a new type of public tender that will place a greater emphasis on quality over price, announced National Development Minister Lawrence Wong on Tuesday evening (June 13). Speaking at the annual Building and Construction Authority (BCA) awards ceremony at Resorts World Sentosa, Mr Wong said: "Unhealthy price competition can lead to negative consequences for the whole industry… Consultants and contractors who bid very low to get the contract end up having to cut cost, and worse still, cut corners." Currently, the quality of the consultant or contractor is given a 30 per cent weightage during tender evaluation. This will eventually be raised for all public tenders. Mr Wong did not gi...

Full article: https://www.srx.com.sg/singapore-property-news/38142/grea...

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