Tuas industrial sites attract healthy interest

SINGAPORE – The tenders for the first two industrial land parcels in the Industrial Government Land Sales (IGLS) Programme for the first half of this year closed on Tuesday with healthy interest, although the offers were relatively conservative, analysts said.

The tender for Plot 45 at Tuas South Street 6 attracted eight bids, with the highest bid from SH Design & Build at S$5.3 million or S$70.17 psf ppr.

Down the road, the corner parcel at Plot 47 Tuas South Street 6 received seven bids, with the top offer from Soon Hock Investment at S$5.1 million or S$68.00 psf ppr.

“While the relatively high number of bidders reflects a healthy interest from end-users for industrial land, the bids submitted are fairly conservative, especially as the previous parcels in the vicinity from the 2013 Industrial Government Land Sales Programme were sold for more than S$80 psf ppr,” said Mr Nicholas Mak, Executive Director of Research & Consultancy Department at SLP International Property Consultants

SH Design & Build’s bid for Plot 45 is 9.3 per cent higher than the second top bidder, signalling its interest in obtaining the site and possibly amalgamating it with an adjacent plot it acquired in February last year.