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24-10-13, 15:29
http://www.straitstimes.com/archive/tuesday/premium/singapore/story/jtc-oversee-collection-data-industrial-property-20131022
PARLIAMENT
JTC to oversee collection of data on industrial property
Published on Oct 22, 2013
By Mok Fei Fei
JTC Corporation will take over from the Urban Redevelopment Authority (URA) as the government agency overseeing the collection and dissemination of data on industrial property.
Trade and Industry Minister Lim Hng Kiang said yesterday that a change is needed as the industrial property market becomes more diverse and complex.
"We need to channel more dedicated efforts and resources to gathering and analysing statistics in this sector to improve market transparency and stability," he added.
Mr Lim was speaking during the second reading of the Jurong Town Corporation (Amendment) Bill, which was passed by Parliament.
JTC has been chosen to take on the role as it is the main government body that looks after the industrial property market.
Currently, URA collects and analyses data across various segments of the property sector, including residential and commercial, and does not focus solely on the industrial market.
With JTC taking over, Mr Lim said, the access to timely and detailed data will allow JTC to better ensure sufficient supply and stability in the industrial market.
Rising in support of the Bill yesterday were Pasir Ris-Punggol GRC MP Gan Thiam Poh and Nominated MP Teo Siong Seng.
Both urged Mr Lim to see to it that JTC will continue to ensure there is sufficient industrial land for businesses, especially small and medium-sized enterprises.
Mr Lim said JTC continues to provide land for industrialists to build their own factories, though warehousing and multiple-user factory space is now provided mostly by the private sector.
Specifically, for the multiple- user factory segment, JTC's market share fell from 60 to 70 per cent in the 1970s to about 20 per cent in 2008.
The drop is due to the Industrial Government Land Sales Programme, which sees active participation from the private sector.
[email protected]
PARLIAMENT
JTC to oversee collection of data on industrial property
Published on Oct 22, 2013
By Mok Fei Fei
JTC Corporation will take over from the Urban Redevelopment Authority (URA) as the government agency overseeing the collection and dissemination of data on industrial property.
Trade and Industry Minister Lim Hng Kiang said yesterday that a change is needed as the industrial property market becomes more diverse and complex.
"We need to channel more dedicated efforts and resources to gathering and analysing statistics in this sector to improve market transparency and stability," he added.
Mr Lim was speaking during the second reading of the Jurong Town Corporation (Amendment) Bill, which was passed by Parliament.
JTC has been chosen to take on the role as it is the main government body that looks after the industrial property market.
Currently, URA collects and analyses data across various segments of the property sector, including residential and commercial, and does not focus solely on the industrial market.
With JTC taking over, Mr Lim said, the access to timely and detailed data will allow JTC to better ensure sufficient supply and stability in the industrial market.
Rising in support of the Bill yesterday were Pasir Ris-Punggol GRC MP Gan Thiam Poh and Nominated MP Teo Siong Seng.
Both urged Mr Lim to see to it that JTC will continue to ensure there is sufficient industrial land for businesses, especially small and medium-sized enterprises.
Mr Lim said JTC continues to provide land for industrialists to build their own factories, though warehousing and multiple-user factory space is now provided mostly by the private sector.
Specifically, for the multiple- user factory segment, JTC's market share fell from 60 to 70 per cent in the 1970s to about 20 per cent in 2008.
The drop is due to the Industrial Government Land Sales Programme, which sees active participation from the private sector.
[email protected]