JTC to launch tender for Ubi industrial site

JTC Corporation has accepted an application from a developer to put up an industrial site at Ubi Road 1/Ubi Avenue 4 for sale via public tender.

JTC said the developer has committed to bid at a price of not less than S$29.38 million in the tender for the land parcel.

Zoned for “Business 1” development, the 1.24 ha site has a maximum gross plot ratio of 2.5 and a lease period of 60 years.

The project has to be completed within a period of eight years.

It was made available for sale through the Reserve List system on October 30 last year.

JTC will launch the tender in about four weeks.

Source : Channel NewsAsia – 30 Dec 2010

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