Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
The anticipated total floor area for these seven sites might potentially reach 1.35 million sqft, up 37% from the IGLS plan in the very first one-half of the year, according to Tan Boon Leong, the executive director of plans and also industrial leasing at JLL.
“The authorities had likely thought about Singapore’s industrial commercial property market performance in the initial quarter while adjusting the most up to date IGLS program,” claims Tan.
The Ministry of Trade and Industry (MTI) on June 30 inaugurated its Industrial Government Land Sales (IGLS) system for the 2nd half of the year.
This makes up four sites from the validated checklist as well as three websites from the scheduled selection, totalling a site place of 6.36 ha, or 684,584 sq ft.
Nonetheless, a bigger total of land plots rest on the reserve record– 3.52 ha, or 378,890 sq ft, yielding a possible gross ground area of 0.86 sq ft. This emulates underlying caution coming from geopolitical pressures as well as business uncertainties, according to Tan.
Underpinned by a robust production interest which had noted the 7th continuous quarter of progress in the very first quarter, the all-industrial hire index as well as residential property index expanded by 1% q-o-q as well as 2.1% q-o-q each, according to JTC reports. It is the highest possible expansion reported ever since 2013 as well as 2014 respectively.