Tender for Gambas Crescent industrial site attracts 4 bids

The tender for the industrial site at Gambas Crescent (Parcel 3) attracted a total of four bids, with Grow-Tech Properties placing the highest bid at S$39.33 million.

According to data from the Urban Redevelopment Authority (URA), Grow-Tech Properties’ bid is 21 per cent higher than the second highest bid by First Shine Management Services.

The other two bidders were Eco-I which submitted a bid of S$29.8 million and Soilbuild Group Holdings with the lowest bid of S$17.3 million.

The plot spans 14,301.9 square metres and has a lease period of 30 years.

URA said a decision on the award of the tender will be made after the bids have been evaluated.

Source : Channel NewsAsia – 10 Dec 2013

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