Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
The anticipated gross floor area for these 7 sites can potentially get to 1.35 million sqft, up 37% from the IGLS plan in the initial one-half of the year, according to Tan Boon Leong, the managing supervisor of strategies and also industrial leasing at JLL.
This makes up 4 locations from the verified listing and also three sites from the scheduled list, totalling a site area 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 second half of the year.
Underpinned by a powerful manufacturing interest which had logged the seventh consecutive quarter of growth in the very first quarter, the all-industrial hire index and apartment index went up by 1% q-o-q and also 2.1% q-o-q each, according to JTC data. It is the highest possible progression logged as 2013 and 2014 specifically.
“The govt had most likely taken into consideration Singapore’s modern real estate market performance in the initial quarter while adjusting the current IGLS procedure,” states Tan.
However, a bigger quantum of property plots sit on the reserve checklist– 3.52 ha, or 378,890 sq ft, producing a possible gross level area of 0.86 sq ft. This mirrors underlying caution coming from geopolitical tensions as well as firm unpredictabilities, according to Tan.