KNG Development puts in top bid of S$12.1m for Kaki Bukit industrial site

KNG Development has submitted the top bid of S$12.1 million for an industrial site at Kaki Bukit Road.

The offer works out to about S$105 per square foot.

Units of mainboard-listed Sim Lian Group and Soilbuild Group were among the bidders for the site.

The Urban Redevelopment Authority said it received a total of 18 bids for the land parcel, with the lowest bid at S$5.2 million.

The land parcel has a site area of about 115,000 square feet and a maximum gross plot ratio of 1 with a lease period of 30 years.

It can be developed for a range of clean, light and general industrial uses.

Source : Channel NewsAsia – 12 Aug 2009

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