SINGAPORE - A total of 14 sites were released under the Industrial Government Land Sales (IGLS) programme for the second half of this year.
The Ministry of Trade and Industry (MTI) said in a statement on Monday that the 14 sites - comprising 10 in the confirmed list and four in the reserve list - will total 14.3 hectares.
Sites in the confirmed list are launched according to schedule, regardless of demand, while those in the reserve list are launched for tender only upon successful application by a developer.
SINGAPORE - The self-storage industry is rapidly expanding in Asia, fulfilling market demand for more storage space, a new report by global real estate services firm CBRE said.
"Consumer demand is strong, due to a range of drivers such as disruptive life events, urbanisation and changes in business activity, with cities such as Tokyo, Hong Kong and Singapore leading the trend," CBRE said in a release issued on Monday.
Investors are becoming more interested in self-storage as an alternative asset class, as seen by the huge success of the recent Self-Storage Expo Asia, which drew in some 200 participants, CBRE noted.
SINGAPORE - From June 1 this year, new and existing tenants of Housing and Development Board (HDB) industrial properties will not be allowed to sublet their industrial properties, the HDB said in a statement on Monday.
Tenants with existing approved subletting arrangements will be allowed to renew their subletting agreements up to Dec 31, 2017. This is to give them time to make business adjustments.
Thereafter, they will not be allowed to sublet their properties.