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2 sites launched under industrial government land sales programme

Tampines plot has 20-year tenure while Woodlands parcel has 30-year leasehold

Nov 25, 2015


JTC has launched a Confirmed-List site in Tampines Industrial Drive and a Reserve-List site in Woodlands Height under the industrial government land sales (IGLS) programme for the second half of this year.

The site in Tampines occupies 0.41 ha and is zoned for Business 2 development. It has a 20-year tenure with a maximum gross plot ratio of 1.4. The tender for this site closes at 11am on Jan 19.

Ong Kah Seng, director at R'ST Research, said he expects between three to five bids for this site, with an expected top land bid of S$65 to S$70 per square foot per plot ratio (psf ppr).

The reserve site in Woodlands, on the other hand, occupies 1.61 ha and is zoned for Business 1 development. It has a 30-year tenure with a maximum permissible gross plot ratio of 2.5.

Mr Ong said that, because of cool industrial-property sentiment, the earliest this site could be triggered for sale is in Q2 of next year.

The launch of the sites is part of the government's drive to offer more choices for industrial development, said JTC in a statement on Tuesday.

Under the Reserve List system, the government will release a land parcel for sale if it receives an offer of a minimum price it finds acceptable, or when there is sufficient market interest for the site.

A site is considered to have received sufficient market interest if more than one unrelated party submits minimum prices that are close to the government's reserve price for the site within a reasonable period.