The Urban Redevelopment Authority (URA) will launch a tender for an industrial site at Pioneer Road North and Soon Lee Drive.
The land parcel was previously placed under the reserve list system. It has an area of 1.9 hectares and a lease period of 30 years.
Under the system, a site would be released for sale only if it receives a bid with a minimum price that is acceptable to the government.
An unnamed developer has made an application to bid at a price of not less than S$8.2 million for the site.
The public tender for the site will be launched in about two weeks’ time.
Source : Channel NewsAsia – 29 Oct 2009