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