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The Government will release land
for about 80,000 square metres of nett commercial
space in 1998. This is about half the 166,000
square metres made available in 1997, and takes
into account the demand and supply situation in
the medium term.
As there are enough hotel rooms
to meet the needs of the tourism industry in the
medium term, the Government will not release any
land for hotel development in 1998.
The Ministry of National Development
will separately announce details of the sites
to be released in 1998 for private residential
properties, Executive Condominiums and commercial
development.
The Government will also be making
some tax changes and concessions to help ease
business costs. I will elaborate on the details
in a later part of my speech |
