THE Government has moved to apply the brakes on the industrial land sales programme. Following the move to curb supply of land for private homes and commercial space, the Ministry of Trade and Industry (MTI) said it would move the remaining site - at Tampines Industrial Ave 4 - on the confirmed list for this year to the reserve list, and suspend its confirmed list of sites for sale in the first half of...
Industrial
Singapore's Trade and Industry Ministry (MTI) announced on Wednesday that it is suspending the Confirmed List for the Industrial Government Land Sales (GLS) Programme. This is due to what it calls "significant and dynamic changes in global economic conditions". MTI said in view of the current uncertainties, the site at Tampines Industrial Avenue 4 will be moved from the Confirmed List to the Reserve List...
JTC Corporation reported a 38.5 per cent drop in net allocation of prepared industrial land (PIL) for the third-quarter 2008, on a year-on-year basis. Third quarter figures stood at 34.5 hectares, similar to the previous quarter but lower than the 56.2 hectares seen in the same period last year. Property consultancy Jones Lang LaSalle told Channel NewsAsia the contraction reflects the weakening of...
An industrial facility in Changi Business Park Vista was sold for S$63 million to Hamburg-based property management company Union Investment Real Estate, on a sale and leaseback term. The 198,000 square foot Applied Materials Building is Union's second investment in Singapore, following the purchase of two office buildings in 2007. Source : Channel NewsAsia - 29 Oct...
The Urban Redevelopment Authority has awarded the tender for an industrial site at Kallang Pudding Road to Orion-Four Development. Orion-Four submitted the sole bid of S$10.8 million for the site which has an area of 5,743.2 square metres. The site was launched for public tender on September 3 and the tender closed on October 7. It was offered for sale on a 60-year lease. Source : Channel NewsAsia - 10...
EVEN with the manufacturing part of the economy facing difficulties, demand for industrial space - particularly in business parks - is apparently still healthy, according to experts from the property firm DTZ. By contrast, the market for office space is softening, the firm says. Executive director Ms Chua Wei Lin said: “Demand for private industrial properties - in particular, hi-tech and business park...
Sim Lian Land has been awarded the tender for an industrial site at Ubi Avenue 4. The company submitted a bid of S$26.3 million for the 60-year lease site. The site has an area of 11,491.5 square metres and a maximum permissible gross plot ratio of 2.5. It can be developed into a range of clean and light industrial uses. Source : Channel NewsAsia - 3 Oct...
The Urban Redevelopment Authority (URA) has closed the public tender for an industrial site at Ubi Avenue 4. The URA had received a successful application for the site to be put up for sale in August and it was launched for public tender on Sept 3. It has a site area of 11,491.5 square metres and a maximum permissible gross plot ratio of 2.5. The site was offered for sale on a 60-year lease and received...
AFTER a record performance last year, JTC - Singapore’s biggest industrial landlord - expects demand for industrial space to weaken in line with slowing economic growth this year. Operating income in fiscal year 2007 rose 5 per cent to $1.1 billion for the state-owned developer, due mainly to higher allocation of ready-built facilities and prepared industrial land. Take-up of its net industrial land...
JTC Corporation has reported a record take-up of some 246,300 square metres of its ready-built space last year, surpassing the previous record seen in 2005. The bouyant industrial property market last year helped JTC to book a record surplus of S$1.183 billion, up 50 per cent from 2006. The numbers were also boosted by impairment loss write-backs of nearly S$159.4 million on its properties. But JTC has...