Revenues collected from government land sales have hit a ten-year record high of S$6.3 billion for the financial year 2006/07 ended 31 March 2007, up 8.6 percent from the previous year. According to the Singapore Land Authority's annual report, the bulk of S$3.5 billion came from selling land to the private sector.
The SLA attributed the jump in last year's proceeds to major projects such as the Marina Integrated Resort, Southern Sentosa Cove and the Civic, Cultural and Retail Complex at One-North Vista Exchange.
Land sold to statutory boards such as the Singapore Tourism Board, Sentosa Development Corporation and JTC Corp under public sector sales amounted to almost S$2.7 billion. - CNA/so
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