Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
This comprises 4 sites from the validated checklist and also three websites from the reserved selection, completing a site location of 6.36 ha, or 684,584 sq ft.
The Ministry of Trade and Industry (MTI) on June 30 inaugurated its Industrial Government Land Sales (IGLS) programme for the 2nd part of the year.
Underpinned by a robust manufacturing requirement which had documented the seventh successive quarter of development in the initial quarter, the all-industrial leasing index and building index grew by 1% q-o-q and also 2.1% q-o-q specifically, according to JTC figures. It is the best progression reported as 2013 and also 2014 respectively.
Nonetheless, a bigger measure of property parcels sit on the reserve listing– 3.52 ha, or 378,890 sq ft, yielding a future gross level location of 0.86 sq ft. This emulates underlying care originating from geopolitical pressures and also firm unpredictabilities, according to Tan.
“The authorities had likely thought about Singapore’s industrial real estate market productivity in the very first quarter while calibrating the most recent IGLS system,” states Tan.
The anticipated gross floor area for these seven sites might probably reach 1.35 million sqft, up 37% from the IGLS course in the very first half of the year, according to Tan Boon Leong, the corporate supervisor of logistics and also industrial leasing at JLL.