Jun 19, 2014

    On offer: 20-year site for multiple-user development

    SINGAPORE will offer a 20-year-leasehold site targeted at multiple-user development in Penjuru Road in Jurong for tender in October, under the confirmed list of the Industrial Government Land Sales (GLS) Programme.

    The 1.63ha site is zoned for Business 2 use and has a 2.5 plot ratio (ratio of maximum gross floor area to land area).

    "The shorter tenure will meet the needs of industrialists for multiple-user development at affordable prices," the Ministry of Trade and Industry (MTI) said yesterday in a statement announcing the second-half 2014 Industrial GLS Programme.

    In all, MTI will release nine sites, adding up to 12.06ha, through the confirmed list and offer six sites, totalling 6.81ha, on the reserve list of the H2 2014 programme.

    Under the H1 2014 programme, the Government is supplying 12.07ha through the confirmed list and 8.35ha through the reserve list.

    Confirmed-list sites are launched for tender according to schedule, regardless of demand.

    On the other hand, a site on the reserve list will be launched upon successful application by an interested party, accompanied with an undertaking of a minimum price that is acceptable to the state.

    Alternatively, the Government may launch a site on the reserve list if there is sufficient market interest in the form of at least two unrelated parties submitting minimum prices that are close to the state's reserve price for the site, within a reasonable period.