Industrial site at Gambas Crescent attracts four bids

An industrial site at Gambas Crescent (Parcel 4) attracted four bids at the close of tender by the Urban Redevelopment Authority (URA) on Tuesday (Aug 26).

The highest bid of S$35 million came from NSS Realty Pte Ltd, while the lowest bid of S$25.6 million was put in by Hock Lian Seng Holdings.

The 1.57-hectare site is zoned for Business-1 development and has a 30-year tenure and a maximum gross plot ratio of 2.5.

It was launched for public tender on Jun 24 this year. URA said a decision on the award of the tender will be made at a later date.

Source : Channel NewsAsia – 26 Aug 2014

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