JTC tenders Corporation Drive industrial site

An applicant committed a bid price of $20.7m.

JTC has put up the public tender for an industrial site at Corporate Drive after accepting an application with a bid price of $20.7m.

According to an announcement, the land parcel was made available for application through the Reserve List system under the second half 2018 IGLS Programme. The public tender for the land parcel is scheduled on 28 August 2018 with a tender period of six weeks.

The $20.7m price is considered acceptable to the government. Under the Reserve List system, JTC is to make public the minimum price committed for the site. However, the identity of the applicant will not be released.

Zoned for Business-2 development, the Reserve List site is a 1.28 ha land parcel with a 30-year tenure and a maximum permissible gross plot ratio of 2.5.