Commercial & Industrial Property News Update

Singapore - Newcon Builders Win MedTech1 Tender

October 18, 2012

A tender for a new nine-storey building in the Medtech Hub has been awarded to Newcon Builders after a bid of SGD 55.38 million, said JTC.

Newcon Builders has been appointed the builder of MedTech1, a new nine-storey building in Medtech Hub, after winning the tender for the project. Newcon had submitted a bid of SGD 55.38 million for the tender which was launched on 29 June.

The tender drew a total of 13 bids, said JTC Corporation, with the highest bid coming in at SGD 80.78 million from Soil-Build Pte Ltd.

Located in the Medtech Hub in Jurong, the sector's first dedicated medical technology hub, MedTech1 will offer 38,000 sq m of purpose-built space catered to the medical industry.

The property will eventually be occupied by businesses such as medical device suppliers and manufacturers, as well as both foreign and local service providers.

The MedTech1 main building will be enhanced by various ancillary facilities, including a series of Good Manufacturing Practices (GMP) and non-GMP corridors. These will form a network connecting laboratories and manufacturing spaces with warehousing, logistics and sterilisation facilities located on the complex.

JTC added that the building is expected to receive its Temporary Occupation Permit (TOP) by late 2013.

Tags: Commercial real estate, Industrial property, Warehouse for sale


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