Saturday, February 9, 2013

JTC seeks public feedback on proposed new function


JTC seeks public feedback on proposed new function.
Plan is to allow JTC to collect, analyse, and publish data on the industrial property market

Business Times - FEBRUARY 09, 2013

JTC Corporation is seeking feedback from the public on planned changes to the Jurong Town Corporation Act.

The amended act will provide JTC with a new function and powers to collect, analyse, and publish statistical data and information on Singapore's industrial property market.

"With the proposed amendment, JTC will take the lead in the collection, analysis, and publication of industrial property statistics," JTC said yesterday.

The Urban Redevelopment Authority (URA) will retain its authority to collect, analyse, and publish statistics in all property sectors.

JTC said there would be arrangements in place between URA and itself to ensure that respondents will not be polled twice for the same industrial property data.

The announcement came a day after Colliers issued a White Paper urging a relook at industrial sites.

Specifically, urban planners must re-examine land-use zonings, usage definitions, planning parameters, plot ratio norms, and regulations, said Colliers International.

The industrial property segment has also appeared on the radar of the authorities and is one of the sectors targeted for the seventh round of cooling measures.

This has been partly attributed to the investors diverted into the industrial segment on the back of residential cooling measures introduced since September 2009.

"The availability of a more comprehensive set of data can help to increase market transparency, as well as enable industrialists, developers, and investors to make more informed decisions," JTC said.

The public consultation exercise, which began yesterday, runs till March 1.

Members of the public who are keen to send their comments to JTC can access and send their comments via the government's feedback unit Reach consultation portal (www.reach.gov.sg).


Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C

Senior Sales Director
DTZ Property Network Pte Ltd (L3007960A)
Email: marshe_inc@yahoo.com.sg

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