Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
Underpinned by an effective produce need which had logged the seventh successive quarter of progress in the very first quarter, the all-industrial leasing index and also house index went up by 1% q-o-q and 2.1% q-o-q specifically, according to JTC data. It is the best growth logged as 2013 and 2014 specifically.
This makes up 4 locations from the confirmed list as well as 3 websites from the reserved listing, completing a site location of 6.36 ha, or 684,584 sq ft.
The awaited gross floor area for these seven locations can likely 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 supervisor of logistics and also industrial leasing at JLL.
“The government had likely considered Singapore’s commercial building market performance in the initial quarter while calibrating the current IGLS procedure,” states Tan.
However, a much larger portion of land parcels remain on the reserve checklist– 3.52 ha, or 378,890 sq ft, giving a possible gross floor place of 0.86 sq ft. This emulates underlying care originating from geopolitical pressures as well as service unpredictabilities, according to Tan.
The Ministry of Trade and Industry (MTI) on June 30 started its Industrial Government Land Sales (IGLS) program for the second half of the year.