Award of tender for Pioneer Rd North/Soon Lee Street site

The Urban Redevelopment Authority has awarded the tender for the industrial site at Pioneer Road North and Soon Lee Street to KNG Properties.

The company has submitted the highest bid of over S$64.4 million.

That translates to about S$1,890 per square foot per plot ratio.

The tender for the industrial site was launched on June 16, and closed on July 13.

The land parcel was offered for sale on a 30-year lease.

The land parcel has a site area of over 17,000 square metres, and a maximum permissible gross plot ratio of 2.0.

Source : Channel NewsAsia – 18 Jul 2011

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