Tag Archives: Government Land Sales Programme

JTC released Tuas sites for sale by public tender

Posted on 24 Jul 2012 | Comments Off on JTC released Tuas sites for sale by public tender

JTC Corporation (JTC) on Tuesday launched for sale by public tender two plots of land at Tuas.

The sites at Tuas South Street 6 and 7 are launched under the Industrial Government Land Sales (IGLS) Programme.

They have been zoned Business-2, which means the sites can be used for industry and warehouse purposes.

Plot 26 at Tuas South Street 7 measures 1.01 hectares, while Plot 31 at Tuas South Street 6 has a land area of 0.86 hectares.

Both land parcels have a tenure of 22 years and gross plot ratio of 1.0. Developers have up to 60 months to complete projects on the sites.

“In line with the government’s efforts to make industrial property more affordable, these plots come with shorter tenure and are targeted at industrialists who need to custom-build their own facilities,” JTC said in a statement.

The tender closes on September 4 at 11am.

Source : Channel NewsAsia – 24 Jul 2012

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Posted in Government, Office / Retail / Industrial

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Singapore’s delicate balancing act

Posted on 21 May 2012 | Comments Off on Singapore’s delicate balancing act

Recently, I was invited to give a property talk at the Ministry for National Development on what the future holds for Singapore’s property market in 2012. Needless to say, I was a bit nervous on how the ministry would perceive my feedback and market outlook as the government body is responsible for formulating and implementing policies that affect the real estate sector.

Singapore is facing a conundrum – it is a favoured investment destination among high net worth individuals which has in turn pushed up property prices. Wages for Singaporeans, however, have not gone up in tandem, which has priced out some locals from getting their first leg in real estate.

It has indeed been a challenging year for the government as high property prices caused a drop in vote margin during the general election last year. Post-GE, we are now seeing a trend in an oversupply in both the private and public markets, as well as Government Land Sales (GLS) programme to ensure property prices remain sustainable.

Coupled with the various policies implemented, the concerted effort by the government has finally began to show result – the Urban Redevelopment Authority’s (URA) Private Property Index (PPI) has finally eased 0.1 per cent in the first quarter of 2012. This is expected to fall even more due to the Eurozone crisis, making it an excellent opportunity for investors to start property hunting, especially for prime properties as they will be the first to decline.

In the words of Warren Buffet, “Be fearful when others are greedy. Be greedy when others are fearful.”

Source: PropertyReport – 21 May 2012

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Posted in General, Government, Property Market / Real Estate

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