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JTC Corporation (JTC) has launched its North Buona Vista Drive site for sale by public tender.
The 99-year lease site, which is zoned for commercial use, was made available for sale via the Reserve List system on 30 April 2008. JTC said that it accepted an application from a developer for the site to be put up for sale via a public tender.
The developer has committed to bid at least $320 million for the land parcel in the public tender.
The approximately 1.8 ha site is located at the junction of North Buona Vista Road and Commonwealth Avenue West. It has a potential yield of 111,565 sqm, with 2,000 sqm set aside for retail use. Located within one-north, JTC's 200 ha innovation and R&D hub, the site will be developed into a high-rise commercial building.
The tender period is eight weeks and will close on 27 July 2010.
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