SLA awards four Sungei Tengah land parcels to 3 companies

SLA awards four Sungei Tengah land parcels to 3 companies

By Valarie Tan

SINGAPORE : The Singapore Land Authority (SLA) has awarded four land parcels at Sungei Tengah for agricultural use to three companies.

These companies were the top bidders for each of the sites.

Environmental Landscape has been awarded the biggest plot of land of three hectares at S$1.12 million. The company also won the bid for the second largest site at S$963,360.

Public-listed Qian Hu Corporation won a parcel by bidding the highest amount for the smallest lot - S$967,135 for an area of some two hectares.

Dragonwana Aquarium Trading was awarded the third largest plot of land at S$530,000.

The four sites are on 20-year leases.

Besides traditional farming like vegetables and fish production, each land parcel can be developed for commercial purposes such as retail, food and beverage, as well as rustic and spa facilities.

The tender at Sungei Tengah follows the successful sale of three similar sites at Lim Chu Kang last year.

SLA plans to release more of such land at a steady rate to meet market demand and, at the same time, enable the existing market to grow before facing new competition arising from new sites.

Sites at Lim Chu Kang fetched between S$300,000 and S$500,000 each.
Source : Channel NewsAsia - 24 Nov 2007

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