Demand for JTC land, space down sharply
Net allocation of PIL falls 61% while that of RBF swings into negative territory
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INDUSTRIAL landlord and developer JTC yesterday reported that net allocation of prepared industrial land (PIL) and ready-built facilities (RBF) declined sharply in 2013 from a year ago.
Net allocation refers to the total amount of land or space leased to companies (gross allocation) minus returns or terminations.
According to JTC's latest quarterly facilities report, net allocation of PIL (land offered by JTC for lessees to develop their own industrial facilities) fell by more than half (61 per cent) from 176.3 hectares in 2012 to 69.1 ha last year.
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