Soilbuild To Develop Business Space For Smaller Firms

Sources : Today, Tuesday, 24th July, 2007

SMALL and medium enterprises (SMEs) can expect more business space choices by next year, following the successful tender for a JTC Corporation Tuas development site by property developer Soilbuild Group Holdings yesterday.

Located at Tuas Crescent, the 43-year leasehold development site is the largest piece of land awarded to Soilbuild so far.

It has a net lettable area of about 700,000 sq ft and will be developed into 15 factory units.

The project will be built as three clusters of two-storey factories, with medium-sized units ranging from about 34,000 sq ft to 43,600 sq ft. Each unit will have a private compound, 10 car park and three lorry park lots.

Targeted for completion by next year, the whole project will cost about $68 million. It will cater to engineering companies, supporting industries of the oil and gas, as well as marine clusters in the area, said Soilbuild in a press statement released yesterday.

“Our strategy has been to cater to the specific needs of SMEs and MNCs multinational corporations)and we have designed the factories at Tuas to suit the needs of these sectors,” said Mr Low Soon Sim, executive director of Soilbuild.

Touted to be ecologically friendly,Soilbuild said the units would provide generous ventilation and natural lighting streaming in through jack roofs to reduce electrical consumption. They will also be equipped with auto sensors and regulators for water systems.

Depending on market conditions when the project is completed next year,
Soilbuild expects the units to fetch between $100 to $150 per square foot.

Other similar projects by the company include the 15-unit Senoko
Food Connection terrace factories for SMEs and an eight-storey Eightrium at Changi Business Park for MNCs.

Soilbuild is also involved in the luxurious residential project One Tree Hill Residence, where 25 of its 48 sold-out units have reportedly been bought over by United Statesbased investment fund Citadel for $41.7 million.

SOILBUILD GROUP HOLDINGS
BUSINESS SPACE: An artist’s impression of the view from the entrance of the upcoming factories at Tuas Crescent to be developed by Soilbuild Group Holdings.