Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
The Ministry of Trade and Industry (MTI) on June 30 started its Industrial Government Land Sales (IGLS) programme for the 2nd half of the year.
Nevertheless, a larger quantum of property plots rest on the reserve selection– 3.52 ha, or 378,890 sq ft, generating a prospective gross level area of 0.86 sq ft. This mirrors underlying care originating from geopolitical strains as well as organization dilemmas, according to Tan.
Underpinned by a robust making need which had logged the 7th constant quarter of progress in the first quarter, the all-industrial service index as well as property index expanded by 1% q-o-q and 2.1% q-o-q specifically, according to JTC data. It is the greatest expansion noted from 2013 and 2014 respectively.
This comprises four locations from the validated listing and also 3 websites from the reserved lineup, totalling a site place of 6.36 ha, or 684,584 sq ft.
The anticipated total floor place for these 7 locations can likely reach 1.35 million sqft, up 37% from the IGLS course in the first one-half of the year, according to Tan Boon Leong, the corporate director of strategies as well as commercial leasing at JLL.
“The state had most likely taken into consideration Singapore’s modern property market productivity in the first quarter while calibrating the most up to date IGLS programme,” says Tan.
