FOR IMMEDIATE RELEASE
18 September 2006
JTC awards tenders for two industrial sites at Ubi Avenue 4 and Serangoon North Avenue 4
1 JTC Corporation (JTC) has awarded the tenders for two industrial sites at Ubi Avenue 4/ Ubi Link and Serangoon North Avenue 4 to the two highest tenderers, Sim Lian Development and Orion-One Development respectively.
2 Both land parcels are offered for sale on a 60-year lease and at a permissible gross plot ratio of 2.5. The particulars of the two awarded land parcels and the successful tenderers are as follows:
|
Location
|
Land Parcel at Ubi Avenue 4/ Ubi Link |
Land Parcel at Serangoon North Avenue 4 |
|
Type of Development
|
Business 1 |
Business 1 |
|
Site Area (sqm)
|
38,577.5 |
29,225 |
|
Permissible Gross Plot Ratio (GPR) |
2.5 |
2.5 |
|
Successful Tenderer
|
Sim Lian Development Pte Ltd |
Orion-One Development Pte Ltd |
|
Tendered Sale Price
(psm/ gpr] |
$39,999,000.00
($414.74) |
$22,800,228.00
($312.06) |
Note: The tendered rate ($ per square metre) is derived from the tendered sale price offered, tendered site area and the permissible gross plot ratio of the land parcel tendered for.
3 The tender for the Ubi Avenue 4/ Ubi Link site was launched on 30 June 2006 and closed on 11 August 2006, with three bids submitted. For the Serangoon North Avenue 4 site, the tender was launched on 16 May 2006 and closed on 4 July 2006, with four bids submitted.
About JTC Corporation
JTC Corporation (JTC) is the lead agency in Singapore to develop key industrial facilities and vibrant industrial space, in support of the nation's economic development. Currently, the Corporation has under its management many developments including four wafer fab parks and an advanced display park, two business parks, a chemicals hub at Jurong Island, biomedical parks in Tuas as well as logistics hubs for aerospace, chemical and general warehousing industries.
JTC also plays a catalytic role in sourcing and introducing leading edge real estate solutions -- such as specialised research facilities and underground caverns -- to anchor important activities critical to the growth of the economy. It is the master developer for one-north at Buona Vista -- a 200-hectare development for research & development and entrepreneurial activities. With a focus on knowledge-intensive activities in the biomedical, infocomm and media industries, one-north will be a niche environment for innovation incorporating research laboratories, offices, homes, parks and educational institutions.