THE Ministry of Trade and Industry has suspended the outright sales of industrial land for the first half of next year. This means that it will only sell industrial land via the 'reserve list' system, where sites are put up for tender only when a developer indicates interest in it.

It will also transfer an outright land sale site for this year to the 'reserve list' for the first half of next year.

In its statement on Wednesday, the Ministry of Trade and Industry said these changes were made in view of "current uncertainties" as they have witnessed significant and dynamic changes in the global economic conditions.

This is in line with the Government's earlier move to suspend outright sales of other types of land for the same period, which was announced by the Ministry of National Development on Oct 31.

The reserve list for industrial land for the first half of next year will have a total of eight sites, including two new ones in Kaki Bukit and Woodlands, to meet potential demand.