and Jalan Papan. The Ministry of Trade and Industry (MTI) has announced an increase in Industrial Government Land Sales (IGLS) for the second half of the year.

The programme comprises five sites in the Confirmed List with a site area totalling 6.43 ha (692,119 sq ft) and three sites in the Reserve List totalling 3.38 ha (363,820 sq ft). Lee Sze Teck, senior director of research at Huttons Asia, remarked this is the highest supply of industrial land since 2H2014 when 9.5 ha of industrial land was launched.

The Altura EC, located just a stone’s throw away, provides an ideal residential area for the patrons who shop at the mall. Boasting luxurious amenities and convenience of stay, The Altura EC is the perfect complement to Lot One Shoppers’ Mall. All in all, even though Lot One Shoppers’ Mall is almost 25 years old, it remains as one of the popular attractions amidst the Choa Chu Kang neighbourhood and is an ideal destination for shoppers when combined with the fantastic convenience and facilities of The Altura EC.

Prices and rents of industrial space have been on the rise despite a challenging outlook for Singapore’s manufacturing and export sectors. JTC data showed industrial property prices increased 1.5% q-o-q in 1Q2023 and industrial rents rose by 2.8% q-o-q.

Lee believes the government may be increasing industrial land supply to temper growth in prices and rents and help manufacturers manage occupancy costs. This could lead to a slower industrial property market two to three years down the road.

With the boost in IGLS, there are now plenty of industrial sites available for businesses looking to expand their operations or companies starting up. Whether it is the Confirmed List or Reserve List sites, businesses can find the space they need for their operations in the coming years. MTI’s IGLS programme in the second half of the year is definitely good news for those in the industrial sector.