URA launches tender for the industrial site at Gambas Avenue / Gambas Crescent

The Urban Redevelopment Authority (URA) has launched the industrial site at Gambas Avenue / Gambas Crescent for sale via public tender today.

The land parcel was made available for sale through the Reserve List system on 24 June 2011. On 4 October 2011, URA announced that it had received an application from a developer to put up the land parcel for tender. The developer has committed to bid at a price of not less than $57,000,000 for the land parcel in the public tender.

The land parcel has a site area of about 2.1 ha and a maximum permissible gross plot ratio of 2.5. Zoned for Business 1 development, the site will have a lease period of 60 years.

Under the Business 1 zoning, the site can be developed for various uses such as light industry, clean industry, utilities or telecommunication uses, as permitted under the Planning Act.

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