URA launches tender for Gambas Avenue / Gambas Crescent site

The 21,426.8 sqm industrial site is for sale for at least $57m.

The land parcel at Gambas Avenue / Gambas Crescent was made available for sale through the Reserve List system on 24 June 2011. On 4 October 2011, URA announced that it had received an application from a developer to put up the land parcel for tender. The developer has committed to bid at a price of not less than $57m for the land parcel in the public tender, and any tender below the minimum bid price will not be considered.

The industrial site has a maximum permissible gross plot ratio of 2.5 and will have a lease period of 60 years. Under the Business 1 zoning, the site can be developed for various uses such as light industry, clean industry, utilities or telecommunication uses, as permitted under the Planning Act.

The tender for the site will close at 12 noon on 17 November 2011.