SEO Version
Policy
(Month of Announcement)
Description
Continued Cap on the
Tenure for Sites in the
Industrial GLS Programme
for H1 2013
(December 2012)
• The government continued to release ample land through the
IGLS programme to meet the needs of industrials and to moderate
land prices.
• The government continued to cap the land tenure for sites on the
IGLS programme. Sites with shorter land tenures of about 22 years,
targeted at SMEs, were also released.
• Successful bidders of selected sites will be required to build a
minimum number of large factory units to cater to needs of SMEs
who need larger industrial spaces.
• The set of conditions for all B1 and B2 sites in the IGLS Programme
announced in January 2012 continued to be effective in its H1 2013 lists.
Imposition of Seller’s Stamp
Duty on Industrial Properties
and Land
(January 2013)
• With effect from 12 January 2013, the government imposed a Seller’s
Stamp Duty (“SSD”) on industrial properties and land bought with
three years of the date of purchase:
o
SSD at 15% if the property is sold in the 1st year of purchase i.e.,
the property is held for one year or less from the date of purchase;
o
SSD at 10% if the property is sold in the 2nd year of purchase i.e.,
the property is held for more than one year and up to two years
from the date of purchase; and
o
SSD at 5% if the property is sold in the 3rd year of purchase i.e, the
property is held for more than two years and up to three years from
the date of purchase.
Source: MTI, URA, DTZ Consulting & Research, February 2013
2.0 Overview of Singapore Industrial Property Market
2.1
2012 Highlights
4
Apart from the measures on the property market in 2012, major highlights expected to impact on the
industrial property market include:
• The Population White Paper and Land Use Plan Paper in January 2013, which provide a roadmap
for Singapore’s population and land use policies till 2030. Some of the key highlights include:
o
Projection of about 6.5 to 6.9 million population by 2030, with the number of Singaporeans
in Professional, Managerial, Executive and Technical (“PMET”) jobs rising from 850,000 in 2011
to 1.25 million in 2030; and
o
Creation of new manufacturing areas at Woodlands, Sengkang West, Seletar, Lorong Halus,
Pasir Ris and new reclamation areas at Tuas.
• Further development of Singapore’s land transport infrastructure e.g.:
o
Commencement of construction work for Tuas West Extension;
o
Announcement of rail alignment and station locations for the 30 km Thomson Line as well as full road
alignment of the North South Expressway; and
o
Doubling of Singapore’s rail network from 178 km to 360 km by 2030 via two new rail lines (Cross Island
Line and Jurong Region Line) and extension of three existing lines (Circle Line, North East Line and
Downtown Line).
• All port container activities will be consolidated at Tuas via a mega-port. The frst set of berths at the new
mega-port is expected to be operational in about 10 years time.
• JTC Corporation (“JTC”) continued to drive new industrial initiatives in 2012, such as:
o
Development of an underground science city near Kent Ridge;
o
Launch of the 7.4 hectares (“ha”) MedTech hub at Tukang Innovation Park at Jurong;
o
Development of the Surface Engineering Hub at Tanjong Kling; and
o
Building of Small Footprint standard factories at Buroh Street to cater to Small Medium Enterprises (“SMEs”).
4
Includes key highlights in January 2013.
47
SABANA REIT
Annual Report 2012
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