Site at Jurong Lake District to be released for sale by public tender

A white site at Jurong Lake District will be released for sale by public tender in two weeks time.

The Urban Redevelopment Authority (URA) said the land parcel was made available for sale through the Reserve List System in October 2010.

The sale process was triggered when the URA received an application from a developer to put up the land parcel for tender.

The unnamed developer has committed to bid at a price of not less than S$510 million for the land parcel.

According to URA, the 1.8 hectares land parcel located along Boon Lay Way is next to the Jurong East MRT station and is suitable for mixed-use development.

URA said a minimum 40 per cent of the maximum permissible gross floor area of nearly 99,000 square metres is to be set aside for office use, while the remaining area may be developed for additional office use or other uses, such as commercial, hotel, and residential.

The site is also the second land parcel to be released for sale at Jurong Gateway.

URA will announce the exact launch date later, while the tender period for the land parcel will be about eight weeks.

Source : Channel NewsAsia – 15 Mar 2011

Join The Discussion

Compare listings