Now is the time to cut land prices by 50-80% for manufacturing industries. Better to have the money in the domestic sector to create spending than to burn in another cock up property bubble. People will prefer Singapore over PRC anytime if they could. But no balls petty PAP will not do it. Slashing office rentals to 6SD/sqf for class A buildings helps. Some buildings in the CBD are now 60% unoccupied as far as I understand.