The government has accepted an application from a developer to put up an industrial site at Woodlands Avenue 12 for public tender.
The Urban Redevelopment Authority (URA) said it has received an application from a developer who has committed to bid a price of not less than S$25 million for the land parcel.
The land parcel has a site area of about 3.2 hectares and a maximum gross plot ratio of 2.5. It can be developed for a variety of uses under “Business 1” zoning and has a lease period of 60 years.
URA will launch the public tender for the site in about four weeks.
The land parcel was made available for sale through the Reserve List System.
Under the system, the government will put up a Reserve List Site for public tender if it receives an application from a developer who commits to bid at or above an acceptable minimum price.
Source : Channel NewsAsia – 11 Mar 2010