SINGAPORE: The Urban Redevelopment Authority (URA) will launch a tender for an industrial site at Pioneer Road North and Soon Lee Drive.

The land parcel, which has an area of 1.9 hectares and a lease period of 30 years, was previously placed under the reserve list system.

Under the system, a site would be released for sale only if it receives a bid with a minimum price that is acceptable to the government.

An unnamed developer has made an application to bid at a price of not less than S$8.2 million for the site.

The public tender for the site will be launched in about two weeks.


- CNA/so