Soilbuild Wins Site With S$13.61 Mln Bid

Source : The Business Times, July 24, 2008

Integrated property developer Soilbuild Group Holdings said on Thursday it has won the tender for an industrial site at Woodlands Industrial Park E5.

Soilbuild's bid for the 180,835 sq ft site was S$13.61 million.

Based on the maximum plot ratio of 2.5 and the maximum gross floor area of about 452,000 sq ft, the land cost for the 60-year lease site works out to be S$324.05 psm/gpr.

The total development cost, including land, is around S$35 to S$40 million.

Development of the site is expected to take about 20 months and the factories are targeted for completion by 2010. -- EMILYN YAP, BT NEWSROOM