SoilBuild Group Holdings received the industrial land parcel at Penjuru Road after submitting a bid of $87.4 million in the recent JTC Industrial Government Land Sales (IGLS) tender. It is a big win for the developer as the same project had repeatedly declined to be awarded when the initial tender did not meet the authorities’ reserve price.
The Penjuru Road site covers an area of around 20,852.9 square metres and is zoned Business 2 (B2) with a gross plot ratio maximum of 2.5 and sits in the Jurong industrial precinct. The 33-year lease of this land is above its previous 30-year tenure and the site is now more attractive to developers and industrial occupiers. When the public tender was closed on 23 December 2025, three bids came in and Soilbuild emerged as the successful tenderer at the top of all competing tenderers.
The developer has 84 months to complete the development. The successful sale reflects an ongoing faith in Singapore’s industrial property sector even amid shifting market conditions. The long lease period for that re-launch probably helped to make the site more attractive by giving developers of buildings longer time to operationalize the property and getting better return on investment.
The development of Penjuru Road plays a key position within one of Singapore’s strategic industrial clusters, its access to major expressways, Tuas Mega Port, Jurong Port, and the major manufacturing cluster in the western region is superb. The position should attract companies with a focus on innovation, logistics, engineering, marine and heavy industry.
The move will add to Soilbuild’s expanding list of industrial projects around Singapore. It has a strong tradition of providing business parks, logistics facilities and integrated business space, thus, positioned perfectly to unlock Penjuru Road. The award also illustrates the success of JTC’s Industrial Government Land Sales programme, which releases industrial land strategically to meet market demand.
This is why, by shifting land supply and lease terms, the programme maintains the support for Singapore’s long-run manufacturing and logistics sectors even though promoting sustainable industrial growth.