Industrial land in Singapore still competitive: Lim Hng Kiang
Singapore's industrial land and rentals continue to be priced competitively compared to its neighbours, said Minister of Trade and Industry Lim Hng Kiang yesterday.
While industrial land prices have gone up sharply, land rentals, which is what affects most small and medium size firms, have been more stable, having been flat from 2002 to 2007 and only rising after that, he said.
"For us we track our competitiveness very closely in terms of our land prices and land rentals vis a vis alternatives in the surrounding countries and a suite of competitive locations. So we continue to feel that our land prices and rentals are competitive," said Mr Lim in Parliament.
He was responding to questions from Mr Inderjit Singh (Ang Mo Kio GRC) who asked how the Government could keep industrial land affordable, and whether firms that bought the land for investments, such as real estate investment trusts (Reits), were driving up the cost of industrial land.