Industrial GLS for H1 2024 launched with 5 confirmed sites, 4 on reserve

THE Ministry of Trade and Industry (MTI) is launching a total of 13.75 hectares (ha) of industrial land across nine sites through the Industrial Government Land Sales (IGLS) programme for the first half of 2024.

On Wednesday (Dec 27), MTI said the government will continue to release sufficient land through the IGLS programme to ensure an adequate supply of industrial space in Singapore.

There will be five sites on the confirmed list which amount to a total of 8.29 ha of land, and four sites amounting to 5.46 ha on the reserve list.

JTC Corporation will be the sales agent for all sites.

Conditions of sale and tender submissions are estimated to be available as early as January 2024, namely for one of the sites on the confirmed list: a 0.9 ha plot at Jalan Papan with a gross plot ratio (GPR) of 1.4 and 20-year tenure.

Two sites on the latest reserve list are currently also on the H2 2023 reserve list of the IGLS programme. One is a 2.18 ha site at Tuas Road with a tenure of 30 years, while another plot spans 0.72 ha at Jalan Papan and comes with a 20-year tenure. Both have a GPR of 1.4.

SEE ALSO

Government boosts private housing supply on confirmed list by 5.6% to 5,450 units in H1 2024

Government puts out largest supply of industrial land plots under GLS programme since 2020  

H2 government land sales programme to have more private housing supply, first sale site in Marina South

DECODING ASIA

Navigate Asia in
a new global order

Get the insights delivered to your inbox.

Sites on the reserve list will be put up for tender if an interested party applies with an offer of a minimum purchase price that is acceptable to the government.

Alternatively, they will also be put up for tender if there is sufficient market interest where more than one unrelated party submit minimum purchase prices that are close to the government’s reserve price for the site, within a reasonable period.