Government to launch 10 sites for tender in H1 2010

Government to launch 10 sites for tender in H1 2010
Dec 31, 2009 - PropertyGuru.com.sg

The government announced that its industrial land sales programme will put 10 sites, including two on the confirmed list, up for tender in the first half of 2010.

Sites on the confirmed list will be launched for tender regardless of developers' interest.

The two sites on the confirmed list include a new site at Ubi Road 1 and a site at Tampines Industrial Avenue 4, which was formerly on the government’s reserve list.

The two confirmed sites have a total of 8.39 hectares site area.

The remaining sites are on the reserve list.

These sites will be launched for sale only after a developer commits to bid at or above the minimum price.

Only the Pioneer Road North site is new to the list.

The rest of the seven sites will be carried over from the reserve list in 2009. These include the Yishun Ave 6, Woodlands Ave 12, Toh Tuck Ave. and Serangoon North Ave 4.

Eight sites included on the reserve list have a total of 13.46 hectares site area.

Due to the uncertain market outlook in October 2008, the confirmed list was suspended then.

However, with the stronger demand seen this year, National Development Minister Mah Bow Tan announced in September 2009 that the confirmed list will be reinstated in the Government Land Sales (GLS) Programme for H1 2010.