THE transformation of Jurong into Singapore's Lake District of the West was set in motion on Friday as the Government released sales details of its first site for tender.

Up for grabs is a 1.9 ha white site, attractively located next to Jurong East MRT Station, with 30 per cent of gross floor area (GFA) for office use.

The remainder of the maximum GFA of roughly 1.15 million sq ft can be used for commercial, hotel or residential, said the Urban Redevelopment Authority (URA) on Friday.

This plum site is the first of a series of developments in a grand masterplan unveiled for Jurong in April by National Development Minister Mah Bow Tan.

The dramatic makeover will help Jurong shed its industrial image as it transforms into Jurong Lake District - a mini metropolis of homes, hotels, shops, eateries and offices linked to MRT via walkways and waterways.

The 360 ha district is the size of Marina Bay and consists of two precincts - the 70 ha Jurong Gateway, with new offices and entertainment spots set around Jurong East MRT station.

The second is Lakeside, which is developed as a destination for young families, with tourist attractions and parks complemented by water activities, set around the Chinese Garden and Lakeside MRT stations.

The URA on Friday said that developers interested in the white site can now apply to put it up for tender, but property experts say response is likely to be muted in light of current economic conditions.

Savills Singapore director of marketing and business development Ku Swee Yong felt that tendering the site now 'is a waste of time at this moment.'

'In today's market, frankly it's not about attractiveness of the site anymore, It's about whether credit is available,' he said.

DTZ executive director Ong Choon Fah agreed, adding that the site is unlikely to be triggered until the outlook becomes clearer, and bank credit is more available.