Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
This comprises four sites from the verified checklist and also three sites from the scheduled list, amounting to a site area of 6.36 ha, or 684,584 sq ft.
The Ministry of Trade and Industry (MTI) on June 30 released its Industrial Government Land Sales (IGLS) system for the second part of the year.
Nevertheless, a much larger portion of land parcels rest on the reserve listing– 3.52 ha, or 378,890 sq ft, yielding a future gross ground area of 0.86 sq ft. This shows underlying caution coming from geopolitical strains and also company uncertainties, according to Tan.
The anticipated gross floor area for these 7 areas can possibly reach 1.35 million sqft, up 37% from the IGLS plan in the very first half of the year, according to Tan Boon Leong, the executive director of plans and commercial leasing at JLL.
Underpinned by a strong production demand which had recorded the seventh successive quarter of expansion in the very first quarter, the all-industrial service index as well as property index grew by 1% q-o-q and 2.1% q-o-q specifically, according to JTC figures. It is the best progression documented as 2013 and 2014 respectively.
“The govt had actually likely considered Singapore’s modern real estate market performance in the initial quarter while calibrating the most recent IGLS procedure,” claims Tan.