JTC on Monday said that it has accepted an application to put up an industrial site at Corporation Drive for sale by public tender. The land parcel was made available for application through the Reserve List system under the second half 2018 Industrial Government Land Sales programme.
JTC said it had received an application with a committed bid price of at least S$20.7 million. “As the minimum price committed by the applicant is acceptable to the government, the site will be released for sale by public tender,” it said.
The identity of the applicant will not be released. How the Reserve List works is that a site is launched for tender only upon successful application by a developer. This is as opposed to Confirmed List sites which are launched according to schedule, regardless of demand.
The public tender for the Corporation Drive parcel is scheduled on Aug 28, 2018, with a tender period of six weeks.
Zoned for “Business-2” development, or heavier industrial use, the site is a 1.28 ha land parcel with a 30-year tenure and a maximum permissible gross plot ratio of 2.5.