For a tendered amount of $70.08 million, JTC has given Soilbuild Group Holdings Ltd the contract for the industrial property at Lok Yang Way.
The property has a 30-year tenure and measures 18,605.5 square meters. Business 2 is the zone.
Soilbuild Group Holdings Ltd. won the site after outbidding two rivals.
The property was up for bid on August 27, 2024, and the bid ended on October 22, 2024.
Potential of the Site
Lok Yang Way IGLS (Industrial Government Land Sales) site, launched by JTC in March and August 2024 and awarded to Soilbuild Group Holdings Ltd in November, marks a strategic milestone in Singapore’s industrial development landscape. This 1.86 ha, 30‑year‐lease B2‑zoned land parcel with a plot ratio of 2.5, spanning 18,605 m² and capped at 85 m height, is ripe with potential across multiple dimensions:
Situated near major expressways, Pan‑Island and Ayer Rajah, LY Connection location offers excellent regional connectivity for logistics, warehousing, and light manufacturing. The B2 zoning allows a blend of business and industrial usage, enabling integrated data centres, high-tech production units, and logistics hubs.
Evidence already exists of the location’s suitability: a Google Asia Pacific data centre (“LYW Data Centre”) is under development, confirming strong interest in digital infrastructure here. This trend aligns with Singapore’s national push to promote digital resilience and sovereignty.
In tandem with the data‑centre trend, modern logistics providers could optimize synergies: proximity to hubs like Jurong, suitability for 3PL (Third‑Party Logistics), and light industrial activities position the site for multi‑user use, distribution centres, and hybrid operations—with flexibility under the B2 zoning.
With Soilbuild’s integrated development model and strong track record, bolstered by a bold $70 million bid, the project stands to benefit from full‑suite capabilities: from design‑and‑build to facility management. This ensures faster delivery cycles, cost control, and an ability to tailor facilities to tenant needs.
JTC permits strata subdivision, allowing developers to sell or lease segmented units. This creates investment upside for specialized end‑users, IT firms, light manufacturers, or regional logistics operators—who value ownership control and configuration flexibility.
A 30‑year lease provides stability, encouraging long‑term capital investment in green tech, specialized fit‑out, or high‑density automated systems. In particular, developers can plan for sustainable buildings with features such as EV charging, solar PV, or smart energy monitoring, aligned with Singapore’s sustainability goals.
Given its location and zoning, LY Connection is well‐positioned to serve as a nucleus for next-gen industrial clusters: AI‑enabled logistics, food‑tech production, electronics assembly, or precision engineering. Access to talent, infrastructure, and connectivity supports the emergence of such innovation ecosystems.