MTI releases more land under IGLS programme for H1 2012

The Ministry of Trade and Industry (MTI) will be releasing more land to meet potential demand under its Industrial Government Land Sales Programme (IGLS) for the first half of 2012.

In a statement, MTI said it will place 16 sites in the Confirmed List and 12 sites in the Reserve List, with a total site area of almost 24 hectares.

More sites of smaller size and shorter tenure have also been released to keep the sites affordable, and to meet the demand of industrialists who prefer to build their own customised facilities.

MTI will also introduce new conditions for industrial developments with effect from January 1, 2012 to better meet the needs for ready-built industrial space.

Currently, developers have the flexibility to build and design industrial developments according to market demand.

But come 2012, developers are not allowed to strata subdivide the development on selected sites in the first 10 years after the completion of the project.

Thereafter, if the developer decides to strata subdivide the development upon expiry of the 10-year period, the gross floor area (GFA) comprised in a single strata unit should not be less than 150 square metres.

Other conditions include setting a minimum provision for goods lifts and loading bays according to the maximum permissible GFA of the land parcel for high rise industrial developments.

Source : Channel NewsAsia – 29 Dec 2011

COMMENTS