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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
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