URA accepts joint tender by CapitaLand et al

The Jurong Gateway site located at Boon Lay Way was awarded at S$969 million.

The site has a land area of approximately 18,159.1 sq m, with a maximum permissible total gross floor area of 88,980 sq m, and with a lease term of 99 years.

Under the URA conditions of tender, the gross floor area of the office component shall be equivalent to at least 40% of the total gross floor area of the development. The remaining gross floor area may be used for the retail component.

CapitaLand, CapitaMalls Asia, and CapitaMall Trust intend to develop the Jurong Gateway site into a mixed retail-office development.

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