Available factory space in Singapore will triple in 2012 and 2013
Industrialists will be supplied an annual lot of 500,000 sqm in multiple-user factory space in the next two years.
The government made the forecast as it tries to moderate industrial land prices and provide adequate space for industrialists.
"The Government expects an annual supply of 500,000 sqm of multiple-user factory space to be
completed in 2012 and 2013. This is about three times the average annual supply for the past five years and will ensure that there is sufficient supply of affordable factory space for industrialists," said the Ministry of Trade and Industry in a release.
"Since March 2012, developers are required to provide accurate information on the type of development and allowable use of the industrial property in the Option to Purchase, and the Sale and Purchase Agreement. To ensure that industrial land is safeguarded for industrial activities, the Government will not hesitate to take action against unauthorised usage," MTI added.