Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
The awaited gross floor place for these seven sites might probably get to 1.35 million sqft, up 37% from the IGLS course in the very first half of the year, according to Tan Boon Leong, the managing director of plans as well as commercial leasing at JLL.
“The government had actually likely taken into consideration Singapore’s industrial real estate market productivity in the initial quarter while adjusting the current IGLS procedure,” claims Tan.
Underpinned by a robust production interest which had logged the seventh successive quarter of expansion in the very first quarter, the all-industrial leasing index and building index climbed by 1% q-o-q as well as 2.1% q-o-q specifically, according to JTC figures. It is the highest progression documented ever since 2013 and also 2014 respectively.
The Ministry of Trade and Industry (MTI) on June 30 introduced its Industrial Government Land Sales (IGLS) program for the 2nd half of the year.
This comprises 4 locations from the verified list and three websites from the reserved selection, completing a site area of 6.36 ha, or 684,584 sq ft.
However, a larger measure of property parcels sit on the reserve selection– 3.52 ha, or 378,890 sq ft, giving a prospective gross floor place of 0.86 sq ft. This reflects underlying care stemming from geopolitical pressures and also service uncertainties, according to Tan.