Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
The expected total floor space for these 7 areas could 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 executive supervisor of plans and also commercial leasing at JLL.
However, a greater portion of land parcels remain on the reserve lineup– 3.52 ha, or 378,890 sq ft, generating a possible gross ground location of 0.86 sq ft. This mirrors underlying care originating from geopolitical tensions and also company uncertainties, according to Tan.
The Ministry of Trade and Industry (MTI) on June 30 launched its Industrial Government Land Sales (IGLS) programme for the second half of the year.
“The state had actually most likely taken into consideration Singapore’s modern building market efficiency in the very first quarter while calibrating the most recent IGLS system,” claims Tan.
This comprises four sites from the verified listing and 3 sites from the scheduled listing, totalling a site location of 6.36 ha, or 684,584 sq ft.
Underpinned by an effective manufacturing demand which had reported the seventh successive quarter of expansion in the initial quarter, the all-industrial hire index and also real estate index expanded by 1% q-o-q and also 2.1% q-o-q respectively, according to JTC statistics. It is the best expansion documented ever since 2013 and 2014 specifically.