NEWS RELEASE
For Immediate Release
JTC AWARDS FOR FIRST TIME STACK-UP FACTORY DEVELOPMENT TO PRIVATE DEVELOPER
- New development comes with improved design concept and at competitive cost
Singapore, 2 June 2008: For the first time, JTC Corporation (JTC) awarded the development of its stack-up factory to a private developer. Soilbuild Group Holdings Ltd (Soilbuild) won the tender to build, own and operate a stack-up factory in a 5-hectare site at Tanjong Kling Industrial Estate.
2 While all the proposals submitted met JTC's tender requirements, Soilbuild’s concept included enhanced features such as a basement carpark to segregate heavy and light vehicular traffic, and a layout that facilitates a smooth heavy vehicular movement within the building. These elements helped Soilbuild clinch the award.
3 A robust growth in the manufacturing sector has fuelled an increase in demand for industrial space in the last three years. This momentum is expected to continue as more investment projects are anchored in Singapore, creating downstream opportunities for supporting industries. To maximise the country’s small landmass, JTC explored new ideas to improve the design of its stack-up factory development to better meet the needs of industrialists, particularly those in the general industries such as precision engineering, machine tool and oil & gas.
4 The new stack-up development at Tanjong Kling comes with an improved Gross Plot Ratio (GPR) of up to 2.50, higher than the GPR of about 2.0 in Woodlands Spectrum. To meet the needs of the larger industrialists, the stipulated minimum per unit floor area per unit for the new stack-up development is 1000 sqm.
5 JTC launched the Concept and Fixed Price Tender in February 2008 as part of its ongoing efforts to encourage private sector participation and promote an active industrial property market in Singapore. "The positive response from the private developers for the stack-up factory development tender reflects the confidence in the industrial space market and underscores the healthy growth of the manufacturing sector in Singapore,” said Ms Tang Wai Yee, Director, JTC’s Industrial Parks Development Group.
6 “We were impressed with the quality of the proposals submitted. This shows that the private developers now have a good grasp of the needs of industrialists. JTC will continue to ensure that there is sufficient industrial space to meet market demand, and engage private developers and industrialists in projects so as to boost Singapore’s dynamic industrial landscape, making it the choice investment location,” added Ms Tang.
7 Stack-up factory development was first introduced and built by JTC in Year 2000 at Woodlands (the Woodlands Spectrum 1 and 2). It was another of JTC’s innovative land and space solutions for industrialists in the land scarce Singapore. The revolutionary concept of stacking the traditional standard factories on top of each other (up to 6 stacks per block) optimises land use and at the same time allows businesses to enjoy ground floor convenience.
8 The new stack-up development at Tanjong Kling is targeted for completion by early 2010.
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About JTC Corporation
JTC Corporation (JTC) is the lead agency in Singapore to plan, promote and develop a dynamic industrial landscape, in support of the nation's economic advancement. Currently, the Corporation has under its management many developments including four wafer fab parks, 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 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 and entrepreneurial activities. With a focus on knowledge-intensive activities in the biomedical, infocomms and media industries, one-north is a niche environment for innovation and creativity.
In line with its vision of making Singapore the choice investment location, JTC is committed to providing a pro-business environment for its customers and optimising land resources to meet the needs of industries and enterprises. JTC's home page address is http://www.jtc.gov.sg.