JTC launches two confirmed-list sites and one reserve-list site

Published Tue, Oct 28, 2014 · 07:24 AM
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JTC Corporation (JTC) on Tuesday launched two confirmed-list sites in Tuas South Street 9 and in Tanjong Penjuru.

It also launched a reserve-list site in Tuas South Street 7 under the second half 2014 Industrial Government Land Sales (IGLS) Programme.

JTC said the two confirmed-list sites are zoned for Business-2 development.

The 0.8 ha site in Tuas South Street 9 has a 20-year seven-month tenure with a maximum permissible gross plot ratio of 1.0.

The 1.6ha site in Tanjong Penjuru has a tenure of 20 years and a maximum permissible gross plot ratio of 2.5.

The tenders for both sites close at 11am on Dec 23, 2014.

JTC said the site in Tuas South Street 7, also zoned for Business-2 development, is 0.5ha in size. It has a 20-year four-month tenure and a maximum permissible gross plot ratio of 1.0.

Under the reserve-list system, the land parcel will be released for sale only if an offer of a minimum price acceptable to the government is received, or when there is sufficient market interest in the site.

A site is considered to have received sufficient market interest if more than one unrelated party submit minimum prices close to the government's reserve price for the site within a reasonable period.

The launch of the sites is part of the government's efforts to offer more choices for industrial development.

The different sizes cater to industrialists who prefer to purchase strata-titled industrial property and those who prefer to have the flexibility to custom-build their own facilities.

The shorter tenure of 20 years for the Tanjong Penjuru site is aimed at meeting the demand for multiple-user development at affordable prices, said JTC.

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