3 more industrial sites released for sale

The Urban Redevelopment Authority (URA) and JTC have launched three sites under the Industrial Government Land Sales (IGLS) Programme, as part of the Government’s efforts to offer more choices for industrial development.

In a joint statement on Tuesday (June 24), the agencies said two confirmed list sites at Gambas Crescent and off Tuas South Avenue 7, and a reserve list site off Tuas South Avenue 14 are now available for public tender.

Confirmed list sites go on sale regardless of interest from developers, while reserve list sites are triggered for a public tender only if a developer makes an acceptable opening offer.

The 1.57-ha site at Gambas Crescent released by the URA is zoned for Business-1 development and has a 30-year tenure and a maximum gross plot ratio of 2.5. The Tuas site on the confirmed list launched by JTC has a land area of 25,700 sqm, and is zoned for Business-2 development with a lease of 30 years and maximum gross plot ratio of 2.

Additionally, the reserve list site in Tuas is launched by JTC and is zoned for Business-2 development. It has a 30-year tenure and maximum gross plot ratio of 2, according to the statement.

The closing date for the tender of the Gambas Crescent site is Aug 26, 2014 at 12pm, while applications for the Tuas site will close on the same day at 11am, the statement said.

Deputy Prime Minister Teo Chee Hean said last Friday that the new supply of industrial and retail space coming up in the next three years is double the average demand over the past three years.

“This strong upcoming supply of industrial and retail space will give businesses more options and ample space to expand their operations in Singapore,” he said.

Source : Channel NewsAsia – 24 Jun 2014

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