KNG Realty wins tender for Pioneer Road North industrial site

The tender for an industrial site at Pioneer Road North has been awarded to private developer KNG Realty.

The company had placed a bid of S$19.4 million for the site, or S$48 per square foot.

The Urban Redevelopment Authority had received eight bids for the site. It was offered for sale in November on a 30-year lease.

The site is intended to be used for clean or light industry, warehousing, public utilities, telecommunications or other public installations.

Source : Channel NewsAsia – 11 Dec 2009

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