Industrial

URA closed tender for industrial site at Ubi Avenue 4

The Urban Redevelopment Authority (URA) has closed the public tender for an industrial site at Ubi Avenue 4. The URA had received a successful application for the site to be put up for sale in August and it was launched for public tender on Sept 3. It has a site area of 11,491.5 square metres and a maximum permissible gross plot ratio of 2.5. The site was offered for sale on a 60-year lease and received...

JTC foresees weaker demand

AFTER a record performance last year, JTC - Singapore’s biggest industrial landlord - expects demand for industrial space to weaken in line with slowing economic growth this year. Operating income in fiscal year 2007 rose 5 per cent to $1.1 billion for the state-owned developer, due mainly to higher allocation of ready-built facilities and prepared industrial land. Take-up of its net industrial land...

JTC sees record take-up of its ready-built space in 2007

JTC Corporation has reported a record take-up of some 246,300 square metres of its ready-built space last year, surpassing the previous record seen in 2005. The bouyant industrial property market last year helped JTC to book a record surplus of S$1.183 billion, up 50 per cent from 2006. The numbers were also boosted by impairment loss write-backs of nearly S$159.4 million on its properties. But JTC has...

Private home prices up 0.2% in Q2, slower than earlier estimate

Prices of private homes in Singapore grew at a slower pace in the second quarter than initially projected - climbing at just 0.2 per cent against an earlier estimate of 0.4 per cent. This is a far cry from the 3.7 per cent growth in the previous three months. Analysts said this is the first time that final numbers have come in lower than flash estimates, suggesting that home prices are finally...

Soilbuild puts in top bid of S$13.6m for Woodlands site

Niche property developer Soilbuild has put in the top bid of over S$13.6 million for an industrial site at Woodlands Industrial Park. This works out to S$30 per square foot per plot ratio. The site has a 60-year lease and can potentially yield a gross floor area of about 452,000 square feet of factory space. Consultants Colliers International said the top bid is in line with price expectations for sites...

Business park occupancy rates may hit new high

Business parks are set to see occupancy rates go beyond 90 per cent by the end of June this year to hit a new peak, according to property consultants CB Richard Ellis (CBRE). At the end of March, the average occupancy rate for business parks stood at about 88 per cent. CBRE said office space shortage and persistent rent increases are driving office tenants towards industrial properties. This has pushed...

Mapletree and Arcapita form JV to hold JTC industrial portfolio

Mapletree Investments has formed a joint venture with Arcapita Bank of Bahrain to hold a portfolio of industrial properties bought from JTC Corp. The assets are worth a combined 1.7 billion Singapore dollars. Arcapita will hold a 56.5 per cent stake in the joint venture called Mapletree Industrial Trust (MIT). Mapletree will own 25.1 per cent, while the rest will be held by Mapletree Industrial Fund, a...

JTC to plant more trees in Tuas to help companies cut energy costs

JTC Corporation will plant more trees in Tuas to help companies there cut energy costs, the company revealed at its tree-planting event at the Tuas Biomedical Park on Wednesday. It said a joint study with the National University of Singapore showed that areas with more greenery experience cooler temperatures. Shade from trees and rooftop greenery can bring down temperatures in buildings by nearly five...

CWT to sell Tanjong Penjuru warehousing hub for S$115.2m

Logistics service provider CWT on Tuesday said it has sold one of its warehousing hubs in the Jurong area for S$115.2 million. No names were given, but CWT said the buyer is a property fund focused on the Asia-Pacific region. Under the agreement, CWT will lease the premises back for five years initially, with an option to renew for another three years. The company will realise a total gain of some...

Compare listings

Compare