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CapitaLand Development subsidiary wins bid to repurpose Kallang Way terraced factory
The Straits Times
|November 21, 2024
The tender for a 4.41ha industrial site in Kallang Way has been awarded to a subsidiary of CapitaLand Development for $369 million, JTC Corporation said on Nov 20.
CL Savour Property will have to retain and repurpose the existing three-storey terraced factory, which was built in the 1980s and is the last of its kind in Singapore.
Retail shops, food and beverage and entertainment outlets, as well as health and fitness establishments, are among possible uses for the retained block. A multi-user food manufacturing factory is to be built alongside it.
This is JTC's first Industrial Government Land Sales (IGLS) tender that requires the successful tenderer to reuse an old building.
The tender aims to inject vibrancy into industrial spaces and provide new amenities for residents.
Four bids were received at the close of tender on Oct 1, JTC said.
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