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Boustead Projects unit clinches JTC tender to develop business park at Mediapolis
BOUSTEAD Projects Limited's wholly owned unit has clinched a contract from JTC Corporation to develop a multi-tenanted business park development at the Mediapolis.
JTC had launched the site under a concept and price tender in June, with a land lease period of 30 years, land area of 9,872.5 sq m and a proposed allowable gross floor area (GFA) of 39,490 sq m.
BP-DoJo LLP was awarded the site based on its innovative development concept and a winning bid price of S$88.9 million, evaluated from among three competing bids, said Boustead Projects on Monday.
This marks Boustead Projects' first project at the 19-ha Mediapolis and third project within JTC's one-north, following the recently completed development of GlaxoSmithKline's new global headquarters for Asia and the completed design-and-build of Seagate International Design Center - The Shugart in 2015.
Construction of this development is expected to commence in the first quarter of next year and be completed by the fourth quarter of 2018.
The development is planned as a 12-floor business park building with two basement levels, located at the junction of one-north Avenue and Media Circle, and a short distance from the Ayer Rajah Expressway.
This addition is slated to bring Boustead Projects' portfolio of industrial leasehold facilities (both wholly-owned and jointly-owned) located within Singapore to 17 properties with an expected GFA approaching 228,000 sq m.