State Land Sale Revenue Doubles In 07/08: SLA

Source : The Business Times, September 23, 2008

Singapore Land Authority (SLA) on Tuesday said that the total land sale revenue due to the State for the financial year ended March 31, 2008 doubled to hit $12.4 billion, from $6.2 billion in the previous year.

The numbers mark a steady increase for 10 straight years now, since the property slump in 1997/98, SLA said when it released its annual report for its 2007/08 financial year.

On the back of a property sector boom and strong demand for state properties for office, education and commercial uses, SLA's operating income achieved an all-time high, increasing by 14 per cent to $100.9 million from $88.6 million a year ago.

SLA's total operating surplus reached for the year ending March 31, 2008, was $17.1 million, close to that achieved in the previous financial year.

There are 4,016,162 sq m in total estimated gross floor area of State properties managed by SLA, which is a new record. This is translated into a 87 per cent occupancy rate.

Looking ahead, SLA aims to do more in the area of spatial information, it said. SLA is responsible for the management of a land data repository and data exchange among public agencies. It is also a key agency in a whole-of-government effort to establish a national spatial data infrastructure.