Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020

The Ministry of Trade and Industry (MTI) on June 30 inaugurated its Industrial Government Land Sales (IGLS) programme for the second half of the year.

Underpinned by a robust production requirement which had actually documented the 7th succeeding quarter of development in the very first quarter, the all-industrial rental index as well as house index went up by 1% q-o-q and 2.1% q-o-q respectively, according to JTC statistics. It is the top development noted ever since 2013 and 2014 specifically.

Cape Royale floor plan

This consists of 4 sites from the validated checklist and three sites from the scheduled lineup, amounting to a site area of 6.36 ha, or 684,584 sq ft.

However, a much larger total of land parcels rest on the reserve checklist– 3.52 ha, or 378,890 sq ft, producing a potential gross level area of 0.86 sq ft. This shows underlying care stemming from geopolitical pressures as well as service uncertainties, according to Tan.

“The govt had actually most likely considered Singapore’s industrialized commercial property market efficiency in the first quarter while adjusting the current IGLS system,” claims Tan.

The anticipated total floor area for these seven locations could potentially reach 1.35 million sqft, up 37% from the IGLS course in the first one-half of the year, according to Tan Boon Leong, the executive director of logistics and also commercial leasing at JLL.