PROPERTY developer Soilbuild Group Holdings has been awarded the development of a business space at Tuas Crescent, for small and medium enterprises in the engineering, oil and gas supporting industries, and marine clusters nearby.
The 69,031-square-metre site is on a 43-year lease. It will be developed into 15 units of factories, with an estimated net lettable area of 700,000 square feet.
Total investment cost is estimated at $68 million. Soilbuild does not expect any material financial impact on its consolidated net tangible assets per share and consolidated earnings per share for the year ended Dec 31, 2007.
The request-for-proposal was launched by JTC Corporation in June.
Soilbuild executive director Low Soon Sim said: 'With the robust economic growth, Tuas is an area that is growing and there is a demand for medium-sized production space especially from the vibrant engineering, supporting oil and gas, and marine clusters.'
The development is set for completion in 2008. It will be built as three clusters of two-storey factories with units ranging from 3,200 square metres to 4,055 square metres. Up to four units can be combined.
The units are designed to be ecologically friendly. Generous ventilation and natural lighting aim to reduce electrical consumption. Other features include LED lighting and motion detectors in some areas, and water system auto sensors and regulators.
Previous awards that Soilbuild has secured from JTC include the Kranji Linc and Senoko Food Connection terrace factories for SMEs. It is also developing a site at Penjuru Road for logistics and warehousing businesses, with expected completion next year.
