JTC has approved an application to sell an industrial site in Gambas Way (Plot 2) via a public tender process.
The property parcel is on the reserve list for the Industrial Government Land Sales (IGLS) Program in the first half of 2019.
If a developer’s stated minimum price in their proposal is appropriate to the government, a platform on the reserve list is prompted for launch. This differs from verified list pages, which are released on time and independent of demand.
JTC said it obtained an application for the 1.2-hectare property with a minimum offer price of $19.31 million.
The place, which is zoned for “Business-2” production, or heavier industrial use, has a 30-year lease and a maximum gross plot ratio of 2.5.
The public tender will be held on March 26 with a six-week tender duration.