Breaking Jurong Lake District into smaller sites could make it more palatable to developers
But the authorities must move quickly, as developing a second CBD will yield considerable benefits
THE failure of the tender for a 6.5 hectare (ha) white site in Jurong Lake District (JLD) to be awarded is a loss – not just for developers, but also for Singapore.
The white site was launched for sale in June 2023 as a master developer site by the Urban Redevelopment Authority (URA). When the tender closed on Mar 26, one consortium submitted two concept proposals.
Last Friday (Sep 13), the URA said while one proposal was shortlisted, the tender for the site was not awarded as the tendered price, which works out to about S$640 per square foot per plot ratio (psf ppr), was deemed to be too low.
TRENDING NOW
UOB found ‘grossly negligent’ over Stamford Land rights issue advice, to pay S$1.9 million
MAS allocates S$1.45 billion to five asset managers in third EQDP batch: Chee Hong Tat
He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons
NoMad Singapore marks brand’s arrival in Asia
