The Ministry of Trade and Industry (MTI) launched on Friday its Industrial Government Land Sales Programme for the first half of 2011.
To meet the demand for industrial land, MTI said there would be four sites in the Confirmed List and seven sites in the Reserve List, with a total site area of 17.67 hectares.
The four Confirmed List sites consist of two new sites at Fusionopolis Link and Irving Place, as well as two sites at Ang Mo Kio Street 62 and Woodlands Avenue 12 that were previously on the Reserve List for the second half of 2010.
The seven sites on the Reserve List for the first half of 2011 include four new sites at Pioneer Road North/Soon Lee Road, Woodlands Avenue 12, Gambas Avenue and Kaki Bukit Road 4/ Bartley Road East.
In addition, three sites from the Reserve List in the second half of 2010 will be carried forward to next year.
These sites are located at Serangoon North Avenue 4, Tuas View Square and Kaki Bukit Road 4.
The government has also shortened the stipulated Project Completion Period which is currently set at eight years.
With effect from January 1, a project with a maximum permissible gross floor area of less than 50,000 square metres must be completed within five years.
For sites that are equal to or greater than 50,000 square metres, they should be completed within seven years.
MTI said this is to ensure developments are completed within a reasonable period of time, and to provide more timely supply of industrial space to meet demand.
Source : Channel NewsAsia – 31 Dec 2010