The Housing & Development Board (HDB) on Monday accepted an application under the Reserve List System to put up a residential land parcel at Jurong West for public tender.
HDB said it will launch the tender for the land parcel in about two weeks.
The land parcel is at Westwood Avenue and it is proposed for the development of landed housing.
The area covers 14,098.9 square metres and is for a lease term of 99 years.
Under the Reserve List System, the Government puts up a Reserve List site for public tender if it receives an application from a developer who commits, by signing an agreement and paying a deposit of five per cent of the bid price, to bid for the site at or above the minimum offer price.
For this site, the minimum offer price has been set at S$15,000,000.
Source: Channel News Asia, 26 Oct 2009