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JTC awards tenders for Tuas industrial sites to Soilbuild Group, Bonco Enterprise

JTC has awarded separate tenders for two industrial sites in Tuas to tenderers Bonco Enterprise and Soilbuild Group Holdings.

Bonco Enterprise won the tender for a 6,280 square metre site at Plot 23 of Tuas South Link 3 with a price of S$2.8 million as the sole bidder.

Soilbuild Group beat out one other bidder to snag the 27,180 sq m site at Tuas Bay Close for S$29.9 million.

The site at Tuas South Link 3 has a gross plot ratio of 1.4 times and a tenure of 20 years.

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Tuas Bay Close may be developed up to 1.4 times its site area, and has a 30-year tenure.

Both sites are zoned for Business-2 development.

JTC announced on Thursday that industrial prices and rentals remained relatively stable in the first quarter of 2018.

Industrial rents dipped 0.1 per cent compared to Q4 2017, and fell 2 per cent year-on-year.

Industrial prices slipped by 0.1 per cent from the previous quarter, and fell 3.6 per cent from the year-ago quarter.

Occupancy rates rose to 89 per cent, up 0.1 percentage point from the previous quarter, and down 0.4 percentage point from last year's first quarter.

JTC expects prices and rentals to stabilise in tandem with occupancy rates as new supply starts to taper in the coming years.