JTC launches six Industrial GLS sites for 2H2020

SINGAPORE (EDGEPROP) - The Ministry of Trade and Industry has launched its Industrial Government Land Sales (IGLS) programme for 2H2020. There will be three sites on the Confirmed List and three on the Reserve List, with a total site area of 4.4 ha. JTC Corp will be the sales agent for all the sites.

Due to “circuit breaker” measures, tenders for two out of the three industrial sites on the Confirmed List are postponed from 1H2020 to 2H2020. The launch date for Plot 2 Tampines North Drive 3 (0.48 ha) is postponed from May to August, while that of Plot 3 Gambas Avenue/Sembawang Avenue (0.7 ha) is postponed from June to October.

The postponement will “allow industrialists to take stock of the industrial property market conditions and whether regional supply chains will improve after the lifting of the circuit breaker”, says Nicholas Mak, head of research & consultancy at ERA Realty.

The third industrial site is a new one at Plot 7 Jalan Papan (0.88 ha), which will be released on the Confirmed List due to earlier indications of interest in that area.

On the Reserve List, the three industrial sites are: Plot 2 Jalan Papan (1.24 ha), Plot 11a Tampines North Drive 5 (0.53 ha), and Plot 5 Jalan Papan (0.57 ha).

Sites on the Reserve List will only be put up for a tender if an interested party submits an application with an offer of a minimum purchase price that is acceptable to the government, or there is sufficient market interest indicated by 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. Interested parties are to apply to JTC.