Jtc Awards Tender Kallang Way Capitaland First Industrial Gls Site Adaptive Reuse
The close proximity to Clementi MRT Station is one of the many desirable aspects of Elta Condo. As part of Singapore’s extensive East-West Line, this MRT station is a mere stroll away from the development, providing residents with convenient and efficient access to various destinations across the island. As one of Singapore’s longest and most crucial MRT lines, the East-West Line seamlessly connects the western and eastern regions of the country. This offers residents the opportunity to easily commute to significant locations such as Jurong East, Buona Vista, Raffles Place, and Changi Airport without the inconvenience of transferring between different lines. Don’t forget to check out Elta for more information.
in October 6 years ago
JTC has awarded the tender for an industrial GLS (IGLS) site at Kallang Way to CL Savour Property, a subsidiary of CapitaLand Development. The top bid of $368.901 million was submitted by CL Savour Property, which is 14.9% higher than the second highest bid of $317.889 million from a consortium of Soon Hock Group, BHCC Construction and Evermega.
This industrial site, which was launched on June 25 and closed on Oct 1, is the first plot earmarked for adaptive reuse of a former industrial building. The existing terrace factory on the site will be retained and adapted for continued industrial use. According to Tang Hsiao Ling, director of urban planning and architecture division at JTC, this strategic integration of adaptive reuse is aimed at rejuvenating the area sustainably, while reducing carbon emissions in the built environment and preserving the industrial legacy of the site.
The 474,772 sq ft site, launched as the last of five Confirmed List sites in the 1H2024 IGLS programme, was highly sought after with four bids received. It is zoned Business 2 under the master plan and has a maximum allowable gross floor area of 1.23 million sq ft. The site also has a 33-year tenure and is part of a designated food zone. The new development will feature food manufacturing spaces and retail uses, injecting vibrancy into this industrial area.
In the 3Q2024, JTC has also announced that industrial rents have risen by 0.3%. This marks the 13th straight quarter of growth, albeit at the slowest rate since 4Q2021, amid weaker demand. In the midst of the Covid-19 pandemic, this is a positive sign for the industrial sector. Meanwhile, two industrial projects underwent virtual TOP inspections in October, showcasing the industry’s adaptability in the face of the pandemic. The recent developments in the industrial sector indicate its resilience and potential for growth in the coming years.