Industrial Property Land Supply drop in 2021

 

Industrial Land

3.86ha of industrial land will be available for sale in the first half of 2021, down from 4.4ha in the previous six months.

The Industrial Government Land Sales (IGLS) program has three verified sites and three reserve sites, according to the Ministry of Trade and Industry (MTI) on Tuesday (Dec 22).

In the second part of this year, the same amount of confirmed and reserved list spots were available. The 4.4ha in site area for the period was down from 7.11ha in the first half of the year, with three confirmed sites and five reserve sites.
The three verified list locations are designated B2 for heavy industrial use for a 20-year period in the most recent announcement.

They are situated on Gul Avenue, Tampines North Drive 5, and Jalan Papan in Tampines, Singapore.

B2 also applies to the three reserve list locations. Two of the locations have been in operation for 30 years. They are located at Tampines North Drive 5 and Woodlands Industrial Park.

The remaining location on Jalan Papan has a 20-year lease.

Regardless of demand, confirmed list sites are released on time, while reserve list land is placed up for tender when a developer submits an acceptable bid to the government.