Singapore unveils 13 sites under GLS programme for 1H14

8 sites are in the confirmed list.

In a release, the Ministry of Trade and Industry (MTI) today launched its Industrial Government Land Sales Programme for the first half of 2014. To continue to meet potential demand for industrial land, there will be 8 sites in the Confirmed List and 5 sites in the Reserve List, with a total site area of 20.42 ha.

The proposed land quantum for the first half 2014 reflects a continuation of the Government’s efforts to release sufficient land, through the IGLS programme, to moderate industrial land prices and to provide adequate industrial space for industrialists.

The tender conditions on all B1 and B2 sites in the IGLS programme which took effect from 1 January 2012 remain unchanged. This will ensure that the new industrial space built by developers can better meet the industrialists’ needs for ready-built industrial space.

JTC, as the main Government agency overseeing the industrial property market, will take over the land sales agent role from URA for all new State land parcels launched under the IGLS programme, with effect from the first half of 2014.