Tender for Jalan Papan B2 industrial site awarded for $6.15 mil

By Atiqah Mokhtar / EdgeProp Singapore | March 18, 2022 5:13 PM SGT
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SINGAPORE (EDGEPROP) - JTC has awarded the tender for the B2 industrial site at Jalan Papan (Plot 9) to Kok Tong Transport & Engineering Works at the tendered sum of $6.15 million.
The tender for the 108,988 sq ft site was launched on Nov 30, 2021. Only one bid was received for the tender, which closed on Jan 11. The site has a 20-year lease and a gross plot ratio of 1.4.
Separately, the tender for the industrial site at Jalan Papan (Plot 8) will not be awarded. The tender, which was launched on Dec 28, 2021, closed on Feb 22 with one bid received. The sole bid was not accepted as the price offered was below the reserve price.
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