Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
Underpinned by a robust making requirement which had logged the seventh continuous quarter of progress in the initial quarter, the all-industrial rental index as well as home index increased by 1% q-o-q and also 2.1% q-o-q each, according to JTC stats. It is the highest progression logged for 2013 and also 2014 respectively.
The Ministry of Trade and Industry (MTI) on June 30 inaugurated its Industrial Government Land Sales (IGLS) system for the second part of the year.
“The state had most likely taken into consideration Singapore’s commercial property market productivity in the initial quarter while adjusting the latest IGLS program,” claims Tan.
The expected gross flooring location for these seven sites can probably reach 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 director of plans and also commercial leasing at JLL.
Nevertheless, a greater total of land parcels sit on the reserve selection– 3.52 ha, or 378,890 sq ft, yielding a future gross floor place of 0.86 sq ft. This mirrors underlying care coming from geopolitical tensions as well as service uncertainties, according to Tan.
This comprises 4 sites from the validated list as well as 3 websites from the reserved lineup, completing a site location of 6.36 ha, or 684,584 sq ft.