JTC has accepted an application to put up an industrial site at 160, Gul Circle for sale by public tender.

This was after it received an application with a committed bid price of not less than S$2 million for the land parcel.

The site in Tuas will be released for sale by tender on Aug 25 for a period of six weeks.

The parcel has a tenure of 20 years. It is zoned Business 2 for heavier industrial use and spans an area of 0.37 hectare; the gross plot ratio is 1.4.

The land parcel had been made available for application through the reserve list system under the first half 2020 industrial government land sales programme. A site on this list is released for launch if a developer’s indicated minimum price in its application is acceptable to the government.

The government will also put a land parcel up for tender if there is sufficient market interest in the form of more than one unrelated party submitting minimum purchase prices that are close to the government’s reserve price for the site, within a reasonable period.

Confirmed list sites, on the other hand, are launched according to schedule, regardless of demand.

Source: https://www.businesstimes.com.sg/real-estate/jtc-to-launch-gul-circle-site-for-tender-0

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