Weak demand seen for two industrial sites put up for sale by JTC

Singapore

TWO sites zoned for heavier industrial use or Business 2 development at Tampines Industrial Drive (Plot 12) and Tanjong Penjuru were launched on Tuesday for sale by public tender, for which consultants are expecting to see weak demand due to their short 20-year tenures.

Such softness was also evident in the bidding interest for the two tenders that closed on Tuesday that each drew five bids, they pointed out.

One was a 0.47-hectare site at Tampines Industrial Drive (Plot 6) with 20-year tenure launched by JTC in June, with the top bid of S$4.94 million or S$69.21 per square foot per plot ratio (psf ppr) from Lim Wen Heng Construction Pte Ltd.

The other site was a 0.6-hectare B1 land parcel at Ubi Avenue 1 with 30-year tenure launched by Housing & Development Board in June - BP-DC Pte Ltd's bid of S$19.86 …