The Urban Redevelopment Authority (URA) is launching a 2.1-hectare parcel of land at Yio Chu Kang/Seletar roads for public tender in about two weeks.
The URA says this follows a commitment from a developer to bid at least S$40.5 million for the site.
The land parcel is located within the residential area at Seletar Hills and near the future Seletar Aerospace Park.
It will be available for development for commercial and residential purposes.
The site will be able to generate a maximum permissible gross floor area of about 29,400 square metres, with a lease period of 99 years.
It was made available for sale under the reserve list of the Government Land Sales programme.
Under the reserve list system, a site will only be put up for sale if a developer commits to bid at, or above, the minimum price which is acceptable to the government.
Source : Channel NewsAsia – 7 Aug 2009