THE government has launched 4.4 hectares of industrial land across six sites under the Industrial Government Land Sales (IGLS) programme for the second half of 2020, the Ministry of Trade and Industry (MTI) announced on Thursday.  

Three sites are on the confirmed list and another three sites, the reserve list. This is down from the three sites on the confirmed list and five on the reserve list for H1 2020, which amounted to a total supply of 7.11 hectares.

The confirmed sites for H2 2020 are in Tampines North Drive 3, Gambas Avenue in Sembawang and Jalan Papan in Jurong. All three are zoned B2 for heavier industrial use. The Jalan Papan site has a tenure of 19 years, while the other two have tenures of 20 years each.

The tenders for the plots in Tampines North Drive 3 and Gambas Avenue had been postponed from H1 2020 to H2 2020, in viewof Singapore’s circuit-breaker measures to tackle the Covid-19 pandemic. The delay was to “allow industrialists more time to prepare for the tenders”, MTI said in its statement. The Jalan Papan site was released on the confirmed list due to earlier indications of interest in that area. 

The three reserve list sites for H2 2020 are all zoned B2. The site in Tampines North Drive 5 has a tenure of 20 years, while the other two, both at Jalan Papan, have tenures of 19 years each. 

Under the reserve list, the government will put up a site for tender if an interested party submits an application with an offer of a minimum purchase price that is acceptable to the government. 

The site may also be put up for tender if there is sufficient market interest in the form of more than one unrelated party submitting minimum purchase prices that are close to the government’s reserve price for the site within a reasonable period. Parties who are interested in sites on the reserve list can apply to JTC Corporation.

Source: https://www.businesstimes.com.sg/real-estate/singapore-launches-44ha-of-industrial-land-supply-for-h2-2020

error: Content is protected !!
×