Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
Underpinned by a robust manufacturing demand which had noted the seventh successive quarter of development in the first quarter, the all-industrial service index as well as apartment index increased by 1% q-o-q and also 2.1% q-o-q respectively, according to JTC statistics. It is the highest progression reported ever since 2013 as well as 2014 specifically.
Nonetheless, a larger portion of property parcels rest on the reserve listing– 3.52 ha, or 378,890 sq ft, producing a future gross ground local area of 0.86 sq ft. This shows underlying caution coming from geopolitical stress and service unpredictabilities, according to Tan.
The awaited total floor place for these seven sites can possibly get to 1.35 million sqft, up 37% from the IGLS course in the very first one-half of the year, according to Tan Boon Leong, the corporate supervisor of strategies as well as commercial leasing at JLL.
The Ministry of Trade and Industry (MTI) on June 30 launched its Industrial Government Land Sales (IGLS) programme for the 2nd half of the year.
This consists of four sites from the verified checklist and three sites from the reserved list, amounting to a site place of 6.36 ha, or 684,584 sq ft.
“The government had likely considered Singapore’s commercial property market performance in the initial quarter while adjusting the current IGLS program,” claims Tan.
