THE vacancy rate of warehouses in Singapore could hit close to 12 per cent in the coming quarters - around global financial crisis levels and up from the current 9.6 per cent in Q1 2016. It is no secret that the industrial property market is now soft, but global property investment management firm TH Real Estate believes that a severe supply overhang will cause the vacancy rates to spike. That said,...
Industrial
JTC has awarded the tenders for two industrial sites at Tampines Industrial Drive and Tuas South Link 1 to the highest tenderers, Hock Lian Seng Holdings and Diamond Land respectively. Hock Lian Seng bid S$3.708 million for the 4,890 sq m site at Tampines Industrial drive, which drew four bids. The tenure is for 20 years, and the site is zoned "Business 2" with a gross plot ratio of 1.4. Meanwhile,...
Industrial rents in Singapore fell 2.7 per cent quarter on quarter (q-o-q) and 5.1 per cent year on year (y-o-y) in the first quarter of 2016, JTC Corporation’s latest statistics released on Thursday show. Industrial property prices have also fallen 2.5 per cent q-o-q and 4.8 per cent y-o-y in Q1 2016. Vacancy rates island-wide also rose by 0.5 percentage point to 9.9 per cent. However, despite higher...
Prices and rentals for industrial space in Singapore fell further in the first quarter of 2016, declining by about 5 per cent compared to the same period a year ago, according to figures released by JTC. Occupancy rates fell in tandem during the quarter, declining 0.6 per cent from the previous quarter. The national principal developer and manager of industrial estates said on Thursday (Apr 28) that...
PRIVATE equity giant Blackstone is understood to be stitching a deal to buy a majority interest in three Singapore properties owned by Sime Darby. It is expected to take a stake of about 75 per cent in entities owning the properties; the deal values the properties at about S$300 million. The yield, on an ungeared basis, is estimated at 6 per cent. Sime Darby, the listed Malaysian plantation-based...
Social networking site LinkedIn opened its S$80 million Singapore data centre on Wednesday (Apr 6) - the company's first data centre outside of the United States. The 23,500-square-feet facility is housed in Digital Realty Trust's data centre in Jurong, and will process all of LinkedIn’s online traffic in the Asia-Pacific region and handle about a third of global traffic, it said in a news release....
A new eight-storey furniture hub will be built by the end of 2018, Minister for Trade and Industry (Trade) Lim Hng Kiang announced on Thursday (Mar 3). The JTC Furniture Hub @ Sungei Kadut will occupy a 2-hectare site and include features such as concept stores and the opportunity to testbed new e-fulfillment business models. It aims to foster a better ecosystem through the clustering of both furniture...
One Confirmed List site at Tampines North Drive 3 (Plot 3) and one Reserve List site at Tuas South Link 1 (Plot 1) have been launched for sale by public tender, JTC announced on Tuesday (Feb 23). The 0.58 ha site at Tampines North Drive 3 (Plot 3) has a 20-year tenure with a maximum permissible gross plot ratio of 2.5. The tender for this site closes on Apr 19, 11am. On the other hand, the 3.33 ha...
The upcoming supply of industrial space this year is expected to exert further downward pressure on occupancy rates, said JTC on Thursday. In a market report on industrial space, JTC pointed out that prices and rents of industrial space continued to fall in tandem with occupancy rates, slipping 1.5 per cent and 1.1 per cent respectively in the fourth quarter from the preceding quarter. This...
A Confirmed List site at Tampines Industrial Drive (Plot 2) has been launched for sale by public tender, JTC announced on Tuesday (Jan 26). The launch is under the first half 2015 Industrial Government Land Sales Programme, it said. The 0.49-hectare site is zoned for Business-2 development, and has a 20-year tenure with a maximum permissible gross plot ratio of 1.4, JTC said. Industrialists are...