Thursday, September 06, 2012

2 reserve list sites triggered for tender

Two reserve list sites will be launched for sale after developers committed minimum bids that are acceptable to the Urban Redevelopment Authority (URA).

Located at Jalan Jurong Kechil, the first site is zoned residential and has a land area of 1.02-ha and gross floor area (GFA) of around 14,200 sq m. It comes with a lease option of 30, 45 or 60 years.

Aside from condominiums or flats, the successful tenderer has the flexibility to develop the site into retirement housing as well.

According to the URA, a developer committed a minimum offer of S$23.96 million on a 60-year lease term for the land parcel.

Meanwhile, the other site (pictured) at Jurong Town Hall Road, offers a land area of 0.9-ha and a potential GFA of around 19,000 sq m.

The plot is expected to be developed into a unique hotel development that features a garden setting, highlighting its ideal location close to the picturesque Jurong Lake.

For this site, the URA accepted the developer’s application of a minimum bid of S$101.98 million.

The sites are expected to be launched in about two weeks and the tender period will be around eight weeks.

View the original article here

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