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