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JTC on Tuesday (29 November) released two sites, one at Tampines Drive (Plot 1) and one at Tuas South Link 3 (Plot 24) for sale under the second half 2016 Industrial Government Land Sales (IGLS) Programme.
The 0.53ha Tampines Drive site was launched for sale from the Confirmed List, while the 0.47ha Tuas South site was from the Reserve list. Both sites are zoned for Business-2 developments with a maximum permissible gross plot ratio of 1.4. The sites both come with 20-year tenures.
The launch of the sites will be the fifth out of the seven Confirmed List sites and the second out of the three Reserve List sites, for the second half of 2016.
According to JTC, the launch is “part of the government’s efforts to offer more choices for industrial developments.”
In addition, JTC said applications may also be submitted to JTC for the Reserve List site at Tuas South Link 3 (Plot 24) to be put up for tender. A land parcel from the Reserve List will only be released for sale if it receives an offer of a minimum price that is acceptable to the government or when there is sufficient market interest for the site. A site is considered to have received sufficient market interest if more than one unrelated party submits minimum prices that are close to the Government’s Reserve Price for the site within a reasonable period.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this or other stories email nikki@propertyguru.com.sg.
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