NEWS RELEASE

For Immediate Release

Singapore, 30 April 2008            JTC Corporation (JTC) announced today the  conditions of tender for the sale of its North Buona Vista Drive (LX 1-1) site located at the junction of North Buona Vista Road and Commonwealth Avenue West. The 99-year lease site is available on the government’s reserve list. Interested developers who are keen to buy the site can now apply to JTC for the site to be put up for tender.  Details are available at JTC’s one-north website: http://www.one-north.sg.  Site details and the location plan for LX1-1 are listed at Appendices A and B. 

2          Zoned for commercial use, the 1.93ha LX1-1 site will yield a total GFA of  120,000 sqm, with 2000 sqm set aside for retail use. LX1-1, located within the biomedical hub of one-north, will be developed into a high-rise commercial building. It will provide office space for the business support companies of the research institutes at one-north, thus building up the R&D ecosystem and injecting added vibrancy to the surrounding areas in one-north.

3          Located next to the LX1-1 site is the business and lifestyle hub of one-north. Upcoming developments of the hub include an integrated hotel, residential and retail development (targeted for completion by 2010) and a Civic, Cultural and Retail Complex (CCRC). The CCRC will have a 5,000 seat state-of-the-art performing theatre when completed in 2011.

Government Land Sale Programme  

4          Under the Reserve List system of the GLS programme, a site on the Reserve List would only be put up for tender after the minimum bid price  received from a developer is found acceptable by the Government. Interested developers will have up to 8 weeks thereafter, to submit their tender bids.

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.

About one-north

one-north is Singapore's icon of the knowledge economy. It serves to provide an intellectually stimulating and creative environment for entrepreneurs, scientists and researchers to congregate, interact and exchange ideas; an exceptional place where this thriving community will work, live, play and learn. With a focus on knowledge-intensive activities in the biomedical, infocomms and media industries, it is slated to be a vibrant hotspot for innovation and test bedding.

Covering almost 200 hectares, one-north will be developed in phases over a period of 15 to 20 years, integrating residential units, commercial hubs, tertiary and research institutes, sports facilities as well as green lungs. It is strategically located in the Buona Vista area (southern part of Singapore) near the National University of Singapore and Singapore Science Park and aims to be a focal point for research and development and technopreneurial activities.

JTC Corporation was appointed master developer for this project in September 2000.

one-north's home page address on the World Wide Web is http://www.one-north.sg

Appendix A

Details of LX 1-1@ one-north 

Appendix B

Location Plan of LX 1-1@ one-north