Public bidding to be set for site at 11 Tuas Avenue 18

JTC will launch the site under industrial GLS programme.

JTC declared that it has accepted an application to put up an industrial site at 11 Tuas Avenue 18 for sale by public bidding.

The land parcel was available for application through the reserve list system under the H1 2023 IGLS programme.

Currently, there is one application with a committed bid price of not less than $2.8m. As the minimum bid price is acceptable to the Government, the site will be released for sale by public tender.

Under the Reserve List system, JTC will publicise the minimum bid price committed for the site. The identity of the applicant will not be revealed. The public tender for the land parcel is scheduled on 29 August 2023 with a tender period of six weeks.

Property firm analyst, Knight Frank, previously said it the expects industrial property market will stay stable even though the manufacturing outlook continues to outperform.

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