Largest bi-annual Industrial Government Land Sales (IGLS) programme launched since 2020
Underpinned by a powerful produce requirement which had noted the seventh consecutive quarter of progress in the initial quarter, the all-industrial hire index and residential property index grew by 1% q-o-q and also 2.1% q-o-q each, according to JTC stats. It is the greatest expansion logged ever since 2013 and 2014 specifically.
“The government had actually likely taken into consideration Singapore’s commercial real estate market productivity in the very first quarter while adjusting the latest IGLS method,” says Tan.
The Ministry of Trade and Industry (MTI) on June 30 inaugurated its Industrial Government Land Sales (IGLS) system for the 2nd half of the year.
The awaited total flooring space for these 7 areas could potentially 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 managing director of strategies and also commercial leasing at JLL.
This makes up four sites from the confirmed checklist as well as three sites from the reserved list, totalling a site location of 6.36 ha, or 684,584 sq ft.
Nonetheless, a greater measure of land plots sit on the reserve listing– 3.52 ha, or 378,890 sq ft, yielding a probable gross level place of 0.86 sq ft. This mirrors underlying caution originating from geopolitical pressures and also company unpredictabilities, according to Tan.