URA to put Kaki Bukit site for sale through public tender

The Urban Redevelopment Authority (URA) will put an industrial site at Kaki Bukit up for sale through a public tender.

It says it has accepted an application from a developer who has agreed to bid for the land parcel at or above the minimum acceptable price of S$5 million. The identity of the developer was not revealed.

The 1.07 hectare site, located at Kaki Bukit Road 2, has a 30-year lease period.

The site can be developed for clean, light and general industrial purposes and was made available for sale through the Reserve List System in May this year.

Under this system, a site will be released for sale only if a bid with an acceptable minimum price is received.

URA will launch the public tender in about two weeks’ time.

Source : Channel NewsAsia – 1 July 2009

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