The Ministry of Trade and Industry announced that all new and ongoing government industrial land sales plan (IGLS) will be added to the lease period or corresponding modifications, including the lots announced in the first half of this year.

The Ministry of Trade and Industry issued a statement on Monday (March 10) pointing out that the above measures are taken into account the development and construction of industrial land, which may take up to three years, which has shortened the actual production or operation time during the lease period, thereby affecting investment efficiency. The additional extension of the lease period will ensure that the company can enjoy a complete 20-year or 30-year lease period after building the facilities.

In addition, two new lots will be included in the reserve list lot this month, offering more options for industry and real estate developers, which also benefit from an additional three-year lease.

The Ministry of Trade and Industry pointed out that in the industrial land sales plan for the first half of this year, seven areas will be included in the regular selection list, and five areas will be included in the reserve sales list, with a total area of ​​about 16.94 hectares. “The government will continue to release enough land through the industrial land sale program to ensure adequate supply of industrial land in Singapore.”

Further reading

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