URA to launch tender for first sale site in Jurong Lake District in 2 weeks

The first sale site at one of Singapore’s new commercial hub, the Jurong Lake District, will be put up for tender in two weeks.

According to the Urban Redevelopment Authority (URA), a developer has committed to bid S$350 million for the 1.9-hectare plot.

The mixed-use site is located at Jurong Gateway Road, next to the Jurong East MRT station.

It has a potential gross floor area of about 107,000 square metres, of which 30 per cent of the space will be dedicated for office use.

The remaining gross floor area can be devoted to commercial, hotel and residential uses, in line with plans to develop Jurong Gateway into a regional commercial centre.

URA said the site will be sold on a 99-year lease.

The site was made available for sale through the Reserve List system on 28 November 2008.

Existing developments in the precinct include the JTC Summit and Jurong Entertainment Centre, which is undergoing a major revamp.

The Jurong Lake District occupies a total site area of 360 hectares, or about the size of Marina Bay.

Source : Channel NewsAsia – 8 Apr 2010

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