The industrial GLS site at Kallang Way has been won by CL Savour Property, a subsidiary of CapitaLand Development, after submitting the highest bid of $368.901 million to JTC. This top bid is 14.9% higher than the second highest bid of $317.889 million submitted by a consortium of Soon Hock Group, BHCC Construction and Evermega.
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This marks the first time an industrial site has been earmarked for adaptive reuse of a former industrial building. The site currently includes an existing terrace factory, which will be retained and transformed for continued industrial use. According to Tang Hsiao Ling, director of urban planning and architecture division at JTC, this integration of adaptive reuse is part of a strategic plan to rejuvenate the area in a sustainable manner. It also serves as an effective way to reduce carbon emissions in the built environment while preserving the industrial history of the site.
The site, which was launched as the last of the five Confirmed List sites in the 1H2024 IGLS programme, covers a total area of 474,772 sq ft. It was put up for tender on June 25 and received four bids by the tender’s closing date on Oct 1. Zoned Business 2 under the master plan, the site has a maximum allowable gross floor area of 1.23 million sq ft and a 33-year tenure. It is also part of a designated food zone, and the new development will include food manufacturing spaces and retail uses to bring vibrancy to this industrial area.