Gambas Way industrial site on reserve list triggered for tender: JTC

JTC on Monday said it has accepted an application to put up an industrial site in Gambas Way (Plot 2) for sale by public tender.

The land parcel is on the reserve list under the first half 2019 Industrial Government Land Sales (IGLS) Programme.

A site on the reserve list is triggered for launch if a developer's indicated minimum price in its application is acceptable to the government. This is as opposed to confirmed list sites which are launched according to schedule, regardless of demand.

JTC said it had received an application for the 1.2 hectare site with a committed bid price of at least S$19.31 million.

Zoned for "Business-2" development, or heavier industrial use, the site comes with a 30-year tenure and a maximum permissible gross plot ratio of 2.5.

The public tender is scheduled on March 26, with a tender period of six weeks.