Soilbuild Group Awarded Lok Yang Way Industrial Site Under JTC’s IGLS Programme

Soilbuild Group Holdings Ltd is pleased to announce that it has been awarded the industrial land parcel at 23 Lok Yang Way under the Industrial Government Land Sales (IGLS) Programme administered by JTC.

About the Lok Yang Way Site

The awarded site spans 18,605 square metres (approximately 200,000 square feet) and is zoned Business 2 (B2), allowing for heavier industrial usage such as logistics, engineering, and light to medium manufacturing. With a gross plot ratio (GPR) of 2.5, the site offers a maximum permissible gross floor area of over 46,000 square metres (495,000 square feet), enabling high-density, large-scale development.

This parcel carries a 30-year lease tenure, providing long-term certainty and flexibility for businesses that require stable industrial space in Singapore.

Winning Tender and Strategic Significance

The tender for this site closed on 22 October 2024 with three bids submitted. Soilbuild emerged as the top bidder with an offer of S$70.08 million, securing the site ahead of two competing proposals. This reflects the Group’s confidence in the resilience of Singapore’s industrial real estate market, as well as its ability to unlock value through innovative development strategies.

Soilbuild’s successful acquisition of Lok Yang Way highlights:

• A proven track record of securing and developing strategic industrial sites.

• A strong pipeline of projects that will strengthen its position as one of Singapore’s leading industrial space providers.

• Continued alignment with Singapore’s national strategy to provide high-specification, sustainable industrial facilities that support the growth of SMEs and multinational companies alike.

Development Vision: A Next-Generation Industrial Facility

Following the award, Soilbuild Construction Group Ltd has been appointed as the main contractor for the development of a 10-storey, multi-user ramp-up industrial facility at Lok Yang Way.

The building has been designed to:

• Maximise Efficiency – Ramp-up access will allow heavy vehicles to reach multiple levels directly, improving operational flow for logistics, e-commerce, and manufacturing users.

• Offer Flexibility – Modular floor plates will be suitable for diverse industrial uses, from warehousing to light manufacturing and supporting ancillary offices.

• Enhance Accessibility – Located in Jurong Industrial Estate, the development benefits from excellent connectivity via major expressways (AYE, PIE, KJE) and proximity to Jurong Port and Tuas Mega Port.
  

The project is expected to complete by Q1 2027, within the 60-month development timeline stipulated under the tender conditions.

Commitment to Sustainability

As part of Soilbuild’s dedication to environmental responsibility and energy efficiency, the Lok Yang Way development is targeting BCA Green Mark Platinum (Super Low Energy) certification. This benchmark reflects the Group’s commitment to:

• Integrating energy-efficient building systems and sustainable materials.

• Reducing long-term operational costs for occupiers through lower utility consumption.

• Supporting Singapore’s Green Plan 2030 by contributing to carbon reduction goals in the built environment.

  
  

About Soilbuild Group

Soilbuild Group is an integrated property group with over 40 years of experience in construction and real estate. The Group has developed an extensive track record across residential, commercial, and industrial sectors, with a strong focus on innovation, sustainability, and value creation.

Through Soilbuild Construction Group Ltd and Soilbuild REIT, the Group manages a diverse portfolio of assets and continues to play a pivotal role in shaping Singapore’s industrial landscape.

Market Is Still Moving: Rental and Price Trends in 2024

As of Q2 2024, JTC reports:

• 6.6% YoY increase in industrial rents

• 15 consecutive quarters of rental growth

• Multi-user factory rents up 2.1% in the last quarter alone

(Source: CBRE Commentary on JTC Report)

That’s good news if you’re:

• An investor looking for rental yield

• A business owner who’d rather own than rent long-term
  

With Lok Yang Connection offering a modern, ramp-up layout and practical unit sizes (~160 sqm onwards), many SMEs can get operational without overcommitting on space or cost.

Lok Yang Connection: Practical Features, Prime Location

Here’s why it stands out:

• Located at 23 Lok Yang Way (near Joon Koon MRT)

• 30-year leasehold 

• Ramp-up access to every level

• High floor loading and ceiling height (great for storage or machinery)
  

And yes, it’s strata-titled—meaning you can own your unit outright and rent it out if needed.

Foreigners can buy. There’s no ABSD or SSD for industrial property.

Should You Take a Closer Look?

If you:

• Run a manufacturing, product assembly, and related business

• Are expanding eastward (or want to shorten your delivery lead times)…

• Are looking for stable rental yield in a scarce supply area…
  

Then Lok Yang Connection might be one of the most strategic factory purchases available right now.

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