JTC to launch Gul Circle site for tender

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.

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