Soilbuild breaks Penjuru deadlock with $87.4m land win

Bids were previously denied after failing to meet reserve prices.

Soilbuild Group Holdings has won the tender for an industrial site at Penjuru Road, offered under JTC Corporation’s Industrial Government Land Sales programme.

The 20,852.9-square-metre site is zoned Business 2 with a gross plot ratio of 2.5 and a 33-year lease.

Soilbuild submitted the top bid of $87.4m with the tender closing on 23 December 2025 and drew three bids.

The developer has 84 months from tender acceptance to complete the project.

The site was previously put up for tender but not awarded after bids fell below the reserve price. It was relaunched in the second half of 2025 with a longer lease tenure.

JTC uses the IGLS programme to release industrial land in stages based on market demand, supporting sectors such as manufacturing and logistics.

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JTC Corporation

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