Industrial sites in Sembawang and Tuas rolled out for sale

SINGAPORE - Three industrial plots of land were rolled out for sale by the Government on Tuesday.

The Urban Redevelopment Authority (URA) and JTC Corporation (JTC) launched one industrial site at Gambas Crescent in Sembawang and two plots at Tuas South.

All three sites are on 30-year tenures and are suitable for multiple-user developments.

The 1.57 ha site at Gambas Crescent Parcel 4 is zoned for "Business 1" (B1) development, making it suitable for lighter industries. It is on the confirmed list, meaning it will go on sale regardless of demand.

Analysts expect three to six bids for the plot, with the highest bid coming in between $90 and $120 psf ppr.

Also on the confirmed list is a 2.57ha site off Tuas South Avenue 7. The parcel is zoned for "Business 2" (B2) development, making it suitable for heavier industrial use.

Analysts expect it to fetch four to seven bids and the top offer to lie in the range of $75 to $105 psf ppr.

However, they expect bidding interest to be lower for the third site, which is off Tuas South Avenue 14. The 3.33ha B2 parcel is on the reserve list, meaning that it goes on sale only if a developer lodges a minimum acceptable bid.

The tenders for the Gambas Crescent and the Tuas South Avenue 7 sites will both close on Aug 26.