Wednesday, December 19, 2012

Requirement for successful bidders of certain industrial sites

SINGAPORE: The Singapore government will require successful bidders of selected industrial sites under its land sales programme to build a minimum number of large factory units.

The Ministry of Trade and Industry (MTI) said on Wednesday that the requirement is to cater to the needs of small and medium sized enterprises (SMEs), which need larger industrial spaces.

The ministry made the announcement as it launched the Industrial Government Land Sales Programme for the first half of 2013.

To continue to meet potential demand for industrial land, there are 13 sites in the Confirmed List and nine sites in the Reserve List, with a total site area of 24.84 hectares.

The proposed land quantum for the first half of 2013 is comparable to that of the second half of 2012.

Altogether, 47.69 hectares of land will be issued in 2012, which is 1.4 times more than that in 2011.

MTI said the government will continue to cap the land tenure at 30 years, and release shorter tenure sites of about 22 years targeted at SMEs.

This will help to meet the demand of industrialists who prefer to build their own customised facilities. With shorter tenure, the sites are expected to be more affordable to industrialists.

The ministry said the government will continue to release ample land through the Industrial Government Land Sales Programme to meet the needs of industrialists and to moderate industrial land prices.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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