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Singapore cuts industrial land supply again for first half of 2020
THE government has once again trimmed industrial land supply for the first half of 2020 under its Industrial Government Land Sales (IGLS) programme.
Industrial land supply fell to 7.11 hectares (ha) in total site area. The number of sites in the confirmed and reserve lists were also reduced.
The Ministry of Trade and Industry (MTI) announced on Friday that there are three sites in the confirmed list and five sites in the reserve list.
This is down from the four sites in the confirmed list and six sites in the reserve list amounting to a total supply of 9.98 ha for the second half of 2019. In the first half of 2019, there were five sites in the confirmed list and seven sites in the reserve list, amounting to a total supply of 11.86 ha.
In the latest launch, the three confirmed list sites are zoned "B2" for heavier industrial use with a tenure of 20 years. They are located in Jalan Papan, Tampines North Drive 3 and Gambas Avenue/Sembawang Avenue. The site at Tampines North Drive 3 was previously in the confirmed list for the first half of 2019.
The five reserve list sites are also zoned "B2". The site at Kaki Bukit Road 5 has a tenure of 30 years and was previously in the reserve list for the second half of 2019.
The remaining four sites each have a tenure of 20 years. They are located at Tuas South Link 3, 160 Gul Circle, Gul Avenue and Jalan Papan. The Jalan Papan site was previously in the confirmed list for the first half of 2019.
Confirmed list sites are launched according to schedule regardless of demand. Meanwhile, reserve list sites are put up for tender when a developer makes an offer of a minimum purchase price that is acceptable to the government.
JTC Corporation will be the sales agent for all the sites.
MTI said the government will continue to release sufficient land through the IGLS programme to ensure an adequate supply of industrial space in Singapore.