Suburban industrial sites take the spotlight in 2H15 sales programme

They’re located in Tuas, Tampines and Woodlands.

Suburban industrial sites took the spotlight in the 2H 2015 Industrial Government Land Sales Programme, according to a report by Colliers International.

“All the sites in the 2H 2015 IGLS Programme are located in the suburban areas of Tuas, Tampines and Woodlands. There are no sites in the Central locality/prime industrial areas like Ubi; this is different from 1H 2015 where the Government placed a 30-year leasehold B1 site located in at Ubi Avenue 1 on the Confirmed List,” said Chia Siew Chuin, Director of Research & Advisory at Colliers.

She added that the 2H 2015 IGLS programme shows the Government’s continued commitment to ensure the availability of industrial space to meet the real estate needs of genuine industrialists, while being mindful of the tepid conditions in the strata-titled industrial sales market and the ample supply in the pipeline.

“The Government’s move to place all the 30-year leasehold sites on the reserve list is a welcomed one, given the sluggish sales momentum and ample pipeline supply. This will ensure that a site is only triggered for launch if there is demand for it. However, it is somewhat surprising that the Government has decided to include a new 30-year leasehold site at Woodlands Height in the 2H 2015 reserve list, given the ample supply in the north,” she said.