CIT gets SLA notice on compulsory land acquisition

The manager of mainboard-listed Cambridge Industrial Trust (CIT) has received a formal notice from the Singapore Land Authority on the compulsory acquisition of land that will affect its properties.

CIT said the compulsory acquisition of land along Tuas Road is for the construction of Tuas West Mass Rapid Transit extension and several road works.

Based on its initial assessment, CIT said three of its 43 properties will be affected to varying degrees by this land acquisition.

It added that by January 2013, the government will possess all or part of the land where these three properties are located.

Meanwhile, the relevant authorities will be arranging for their representatives to discuss with CIT on compensation details.

CIT will continue to assess the situation and issue further announcements when it has more information.

Source : Channel NewsAsia – 18 Jan 2011

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