MTI suspends Confirmed List for Industrial GLS Programme

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 under Industrial GLS Programme for the second half of 2008.

Under the Reserve List system, the government will only release a site for sale if a developer applies for the site to be put up for tender, with an offer of a minimum purchase price that is acceptable to the government.

However, to continue to meet potential demand, MTI will make sites available on the Reserve List. The ministry said it would introduce two new sites on the Reserve List in Kaki Bukit Road 2 and Woodlands Industrial Park E5/Woodlands Avenue 4.

In addition, six sites from the second half of the 2008 Reserve List will be carried forward to the first half of 2009 Reserve List.

This brings the total number of sites to eight, with a total site area of about 15 hectares.

Source : Channel NewsAsia – 10 Dec 2008

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