Source : Business Times - 23 Sep 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.
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