JTC awards Woodlands industrial site to Soon Hock for S$82m

JTC has awarded the tender for an industrial site at Woodlands Avenue 12 to developer Soon Hock Investment Group for S$82 million.

The tender for the site was launched on Dec 26, 2018 and closed on Feb 13, 2019, with six bids submitted. According to a previous report, the tender was triggered by a committed bid price of not less than S$36 million.

The 20,937 square metre industrial site has a lease of 30 years and a maximum permissible gross plot ratio of 2.5 hectares. It is zoned Business 2 for heavier industrial use, with a project completion period of 84 months.

The land parcel was made available for application through the Reserve List system, under the second half 2018 Industrial Government Land Sales Programme.