A second land parcel in Jurong Lake District was launched for sale by public tender on Wednesday.
The Urban Redevelopment Authority (URA) said the land parcel located at Jurong Gateway Road was made available for sale through the Reserve List System in October 2010.
An unnamed developer has committed to bid at a price of not less than S$510 million for the land parcel, triggering the sale process.
According to the URA, the over 18,000 square metre site is within the Jurong Gateway precinct and suitable for a mixed-use development.
URA said at least 40 per cent of the maximum permissible gross floor area of nearly 90,000 square metres is to be set aside for office use.
Meanwhile, the remaining area may be developed for additional office use or other uses, such as commercial, hotel and residential uses.
The tender will close at noon on May 25.
Source : Channel NewsAsia – 30 Mar 2011