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

This consists of four sites from the validated checklist and also three sites from the reserved listing, totalling a site area of 6.36 ha, or 684,584 sq ft.

“The authorities had most likely taken into account Singapore’s modern building market productivity in the initial quarter while calibrating the latest IGLS method,” claims Tan.

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

Piccadilly Grand showflat location

Underpinned by a robust production need which had noted the seventh continuous quarter of growth in the first quarter, the all-industrial leasing index and also home index climbed by 1% q-o-q and 2.1% q-o-q respectively, according to JTC stats. It is the highest possible expansion documented ever since 2013 and 2014 respectively.

Nevertheless, a greater measure of property plots remain on the reserve checklist– 3.52 ha, or 378,890 sq ft, yielding a possible gross floor area of 0.86 sq ft. This reflects underlying care stemming from geopolitical tensions as well as service uncertainties, according to Tan.

The awaited total flooring place for these seven areas could likely get to 1.35 million sqft, up 37% from the IGLS program in the first one-half of the year, according to Tan Boon Leong, the corporate director of strategies and also industrial leasing at JLL.