JTC has accepted an application to put up an industrial site at 160 Gul Circle for sale by public tender. This was after it received an application with a committed bid price of not less than S$2 million for the land parcel.
The minimum bid price was acceptable to the government, hence the site will be released for sale by tender on Aug 25 for a period of six weeks.
The land parcel has a tenure of 20 years. It is zoned Business 2 for heavier industrial use and spans an area of 0.37 hectare with a gross plot ratio of 1.4.
The land parcel was made available for application through the reserve list system under the first half 2020 industrial government land sales programme.
A site on the reserve list is released for launch if a developer’s indicated minimum price in its application is acceptable to the government. This is opposed to confirmed list sites which are launched according to schedule, regardless of demand.