Kaki Bukit industrial site sold for S$12.1m to Kng Development

An industrial site at Kaki Bukit which attracted a record number of bids has been sold to highest bidder, Kng Development Pte Ltd, for S$12.1 million.

The 115,342 square foot plot in Kaki Bukit Road 2 was launched for public tender on July 14, after an application bid of S$5 million was submitted.

Eighteen offers were made by the end of the bidding period – the most ever received for an industrial site.

The site, which has a 30-year lease, is zoned as a Business 2 development which allows clean, light and general industrial uses.

Analysts said sites for such uses in the Kaki Bukit area are rarer as they are usually found in Tuas or Changi.

Source : Channel NewsAsia – 17 Aug 2009

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