News Releases

24 November 2006

URA to Launch the Tender for the Reserve Site at Tuas Bay Drive / Tuas South Avenue 3 in Two Weeks' Time

The Urban Redevelopment Authority (URA) announced today that it has accepted an application from a developer to put up the industrial site at Tuas Bay Drive / Tuas South Avenue 3 for public tender.

DETAILS OF THE APPLICATION

The site at Tuas Bay Drive / Tuas South Avenue 3 was made available for sale through the reserve list system on 30 October 2006, about 4 weeks ago. Under the government's reserve list system, the government will put up a reserve site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of 5% of the bid price, to bid for the site at a price which is acceptable to the government.

URA has received an application from a developer who has committed to bid a price of not less than S$5,100,000 for the site. In accordance with the procedures of the reserve list system, URA is making public this price. However, the identity of the applicant will not be released.

URA will launch the public tender for the site in about two weeks’ time. The launch date will be announced later and a tender period of about 8 weeks will be allowed for this site.

SALE SITE AT TUAS BAY DRIVE / TUAS SOUTH AVENUE 3

The land parcel has a site area of about 3.68 ha and a maximum permissible gross plot ratio of 1.0 with a lease period of 60 years. It is zoned for Business 2 development.

The details of the land parcel are at Annex A-1 and the location plan at Annex A-2. More details of the site are available on URA website at http://www.ura.gov.sg/sales/sales_main.html.

Details of the launch of the tender will be announced later.

For media enquiries, please contact:

Ms Ang Hwee Suan

Head, Public Relations

DID: 6321 8134

Email: ang_hwee_suan@ura.gov.sg

Ms Lynn Ng

Public Relations Officer

DID: 6329 3251

Email: lynn_ng@ura.gov.sg

Annex A-1

Details of Land Parcel at Tuas Bay Drive / Tuas South Avenue 3

+          Subject to cadastral survey

++          Clean, light and general industrial uses can be allowed within Business 2 zone