New and existing tenants will not be allowed to sublet their industrial properties from Jun 1 this year, the Housing and Development Board said in a press release on Monday (Mar 30). However, to facilitate business adjustments, HDB said tenants with existing approved subletting arrangements will be allowed to renew their subletting agreements until Dec 31, 2017. According to the HDB website, some of...
Industrial
A specialised high-rise development for the furniture industry will be set up at Sungei Kadut to help Singapore firms operate more efficiently, Senior Minister of State for Trade and Industry Lee Yi Shyan said on Friday (Mar 13). He said the JTC Furniture Hub @ Sungei Kadut will be the first specialised, high-rise and multi-tenanted development to bring furniture companies and related service providers...
A new site at Tuas South Street 6 is up for sale, announced JTC Corporation on Tuesday (Feb 24). The 0.7-hectare site was launched for sale by public tender under the first half 2015 Industrial Government Land Sales (IGLS) Programme. The Confirmed List site is zoned for Business-2 development and has a 20-year 3-month tenure, with a maximum permissible gross plot ratio of 1.0, JTC said in its press...
JTC on Wednesday (Feb 11) broke ground for the first industrial development in the Republic that will house companies within the entire manufacturing value chain when it is completed in 2017. The development, JTC @ Space, is sited on a 6.4-hectare land in Tuas, and will have seven land-based factories on the ground floor for heavy manufacturing activities such as those in the oil and gas sector. There...
JTC Corporation has revised the methodology it uses to compile price and rental indices for industrial property in Singapore, in a move to provide more comprehensive data coverage and introduce greater transparency into the market. The revisions include expanding the indices’ geographical coverage to the whole of Singapore, from just the central region previously. The indices now also include new...
The tender for an industrial site at Tuas South Street 9 has been awarded to the highest tenderer, Asiaone Logistics & Warehousing Pte Ltd, at a tendered sale price of S$7,038,000. In a press release on Monday (Jan 19), JTC Corporation (JTC) said the tender for the site had attracted four bids. The site has an area of 8,369 square metres with a tenure period of 20 years and seven...
Singapore's industrial property market will continue to have a mixed outlook for this year, according to a report released by Colliers International on Monday (Jan 12). The real estate services firm said that companies are expected to remain cost-sensitive and may take longer to evaluate their business space needs. This is partly due to the fragile global economic outlook and lingering risks from...
Weak demand for conventional factory space, coupled with a big injection of supply to existing stock, contributed to falling rents for industrial space in the fourth quarter of last year, said property consultancy DTZ Research on Monday (June 1). Demand for space in business parks and high-tech industrial facilities, on the other hand, continued to rise, underpinning rents for this sector, it said,...
The Government is tightening the supply of industrial land. A total of 14 sites have been placed under the Industrial Government Land Sales (IGLS) Programme for first half of 2015 - one fewer than for the preceding six months. Of the 14, nine sites have been placed on the Confirmed List. Of these, three are located at Tampines Industrial Drive, four at Tuas South, and one each at Woodlands Avenue 10 and...
The Association of Process Industry (ASPRI) will build a 7,900-bed workers accommodation in Jalan Papan to cater to workers from the process industry, it announced on Tuesday (Dec 23). The integrated development will also house a 3,000 square metre training centre which provides training courses for process industry workers who reside in the facility. The ASPRI training courses will help process...