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The Ministry of Trade and Industry (MTI) on Tuesday (27 December) announced the details of the 1H 2018 Government Land Sales (IGLS) Programme, revealing that the amount of land it will offer for the next six-month period has been slighted reduced.
Between next January and June, it will launch for sale six Confirmed List sites and seven Reserve List sites spanning a total of 12.56ha. In comparison, there were eight Confirmed List sites and six Reserve List sites with a combined area of 13.9ha under 2H 2017 IGLS.
“The measured 1H 2018 IGLS programme is seen as a positive for the industrial property market as it would allow the market time to soak up the available space amid the more upbeat economic outlook,” JLL’s Research Head Tay Huey Ying told the Business Times.
“This would help to mitigate any downward pressure on industrial rents and prices in 2018,” she said. Previously, JTC’s latest data showed that rentals have declined for the 10th consecutive quarter, while overall vacancy level reached a 10-year high of 11.4 percent in Q3 2017.
In particular, the six plots on the Confirmed List measure between 0.43ha and 0.88ha, with a gross plot ratio of 1.4 to 2.5. All are zoned for Business 2 (B2) and have a leasehold tenure of 20 years.
Meanwhile, the seven Reserve List sites cover an area ranging from 0.44ha to 2.40ha, with a gross plot ratio of 1.4 to 2.5. Except for one Business 1 (B1) land parcel, the rest are zoned for B2. Three have leasehold terms of 20 years, while four have tenures of 30 years.
JTC will be the sales agent for all these sites. For their particulars, please visit this link.
This article was edited by Keshia Faculin.
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