The Urban Redevelopment Authority (URA) has launched a “white site” for sale at Boon Lay Way. This is the second site to be made available for sale in the Jurong Lake district.
The site is made available on the Reserve List under the Government Land Sales Programme for the second half of 2010.
URA said developers interested in buying the site can now apply for it to be put up for tender.
Successful bidders for “white” sites have the flexibility to change the mix of use or the quantum of each use stipulated in the conditions of tender without having to pay differential premium.
The sale site at Boon Lay Way is ideal for sizeable mixed-use development with a potential gross floor area of about 88,980 sq m.
In order to boost the supply of quality office space within Jurong Gateway and provide more location choices for businesses, a minimum 40 per cent of the maximum permissible gross floor area for the land parcel is to be set aside for office use.
The remaining space may be developed for additional office use or for commercial, hotel and residential purposes allowed under zoning rules.
Source : Channel NewsAsia – 29 Oct 2010