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

The expected total floor area for these seven sites can likely reach 1.35 million sqft, up 37% from the IGLS course in the initial half of the year, according to Tan Boon Leong, the executive supervisor of logistics and also industrial leasing at JLL.

Nonetheless, a greater quantum of property parcels sit on the reserve list– 3.52 ha, or 378,890 sq ft, giving a probable gross level area of 0.86 sq ft. This reflects underlying caution stemming from geopolitical pressures as well as company uncertainties, according to Tan.

Pollen Collection Bukit Sembawang Estates Limited

This makes up four locations from the verified list and also 3 sites from the reserved listing, amounting to a site place of 6.36 ha, or 684,584 sq ft.

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

“The authorities had likely considered Singapore’s industrialized building market productivity in the very first quarter while adjusting the most recent IGLS system,” claims Tan.

Underpinned by a strong produce need which had recorded the seventh consecutive quarter of growth in the initial quarter, the all-industrial leasing index as well as property index climbed by 1% q-o-q and 2.1% q-o-q respectively, according to JTC stats. It is the best buildup logged as 2013 and also 2014 respectively.

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