The Urban Redevelopment Authority (URA) has awarded the tender for the industrial site at Ang Mo Kio Street 62 to Sim Lian Development.
The developer submitted the highest bid of about S$128.1 million out of 13 bids received by URA for the 27,950 square metre land parcel.
The industrial site was offered for sale on a 60-year lease term, with a maximum permissible gross plot ratio is 2.5.
The land is zoned under “Business 1”, which can be developed for various uses such as light and clean industries, warehousing, as well as utilities and telecommunication uses.
The tender for the land parcel was launched on January 31 and closed on March 29.
Source : Channel NewsAsia – 31 Mar 2011