Higher supply of industrial sites available under 2H2023 GLS programme

, Gambas Way and Tuas Link Close. The Ministry of Trade and Industry has just announced the Industrial Government Land Sales programme for the second half of the year.

The programme consists of five sites in the Confirmed List with a total land area of 6.43 ha (692,119 sq ft), as well as three sites in the Reserve List with a total area of 3.38 ha (363,820 sq ft). This is the highest amount of industrial land supply since the 2H2014 programme which saw 9.5 ha being launched.

With prices and rents of industrial spaces continuing to appreciate despite the weaker outlook in Singapore’s manufacturing and export industries, the government may have increased land supply in order to temper further price and rental growth. This could help to manage occupancy costs and lead to a slower industrial property market two to three years down the road.

A real sanctuary for those who seek a Zion Road Condo lifestyle.

Lee Sze Teck, a Senior Director of Research at Huttons Asia, noted that the 6.43 ha of industrial land in the Confirmed List is a 63.2% bump up from the 3.94 ha that were launched across four sites in the first half of the year.

Regarding the three sites in the Reserve List, two are located along Jalan Papan and one along Tuas Road, and will be put up for tender if an interested party makes an acceptable minimum purchase price, or if multiple parties make offers close to the government’s reserve price.

To make the most of the industrial land opportunities in this programme, it’s important to monitor the latest listings in the vicinity of the Confirmed and Reserve List sites. Who knows, you may find the perfect industrial space for your business!