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

However, a much larger portion of land parcels rest on the reserve list– 3.52 ha, or 378,890 sq ft, generating a prospective gross level place of 0.86 sq ft. This emulates underlying care stemming from geopolitical pressures and also service dilemmas, according to Tan.

“The govt had actually most likely thought about Singapore’s commercial building market efficiency in the very first quarter while adjusting the latest IGLS system,” claims Tan.

The expected gross flooring location for these seven sites could possibly reach 1.35 million sqft, up 37% from the IGLS plan in the first half of the year, according to Tan Boon Leong, the managing supervisor of logistics as well as industrial leasing at JLL.

Underpinned by a powerful produce demand which had actually noted the seventh constant quarter of expansion in the initial quarter, the all-industrial leasing index as well as apartment index expanded by 1% q-o-q and 2.1% q-o-q each, according to JTC statistics. It is the highest progression documented as 2013 and 2014 respectively.

Lentor Modern condo

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.

This consists of four sites from the verified checklist and three sites from the scheduled listing, totalling a site place of 6.36 ha, or 684,584 sq ft.

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