JTC launches tender for site at North Bunoa Vista

A commercial site within the biomedical hub of one-north will be put up for sale by public tender.

JTC Corp Thursday announced an application from a developer for the 1.8-hectares plot of land located at North Buona Vista.

The developer, which was not named, has committed to bid at a price of not less than S$320 million.

The 99-year lease site was placed on the government’s Reserve List system since April 2008.

The site has a potential yield of about 111,565 square metres, with 2,000 square metres being set aside for retail use.

JTC says it will be developed into a high-rise commercial building, providing office space outside the central business district.

The development of the site is expected to build up the R&D ecosystem and inject added vibrancy within one-north and in its vicinity.

Upcoming developments of the hub there include an integrated hotel, residential and retail development as well as a Civic, Cultural and Retail Complex.

JTC will launch the tender at a later date.

Source : Channel NewsAsia – 20 May 2010

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