SINGAPORE - The Singapore government has further trimmed supply of sites in its industrial land sales programme for the first half of next year due to what analysts said was huge supply and the struggle by developers to sell older stock.
It is offering six sites with a total area of 4.04ha on the confirmed list, down from 10 sites with a total area of 6.12 ha in the second half of this year.
"This reduced supply over the past year suggests that the Government is watching the sector closely and taking into consideration the large amount of existing and upcoming supply," said Colliers International head of industrial services Tan Boon Leong.
The sites on the confirmed list slate are in Tampines, Woodlands and Tuas. All come with tenures of 20 years and are for B2 - or heavier industrial - use.
Another four sites are being offered via the reserve list, including a B1 site for light industrial use.
A reserve list site is released for sale if it receives an offer of a minimum prices that is acceptable to the Government, or if there is sufficient market interest for the site.