Office rentals have been pushing higher in 2014, with tight supply pushing rentals up by more than 10 per cent. Consultancy Jones Lang LaSalle (JLL) projects that rentals at office buildings in the Central Business District (CBD) - including Marina Bay, Shenton Way and Raffles Place - could grow by some 16 per cent, driven primarily by the tight supply of new office space in Singapore. Looking into...
Industrial
JTC Corporation (JTC) said on Tuesday (Dec 16) that it will offer two sites in Tuas for sale by public tender. The first site, which is on JTC's Confirmed List, is a 0.8-hectare piece of land at Tuas South Street 11 that had been zoned for Business-2 development. The site has a 20-year five-month tenure with a maximum permissible gross plot ratio of 1.0. The tender closes on Feb 10, 2015. Mr...
JTC Corporation has launched three land parcels for sale under the Industrial Government Land Sales (IGLS) programme: Two Confirmed List sites at Tuas South Street 11 and Tampines Industrial Drive, and one Reserve List site at Tampines Industrial Drive. In a news release on Tuesday (Nov 25), JTC said all three are zoned for Business-2 development. The 1-ha site at Tuas South Street 11 has a 20-year...
A high-rise specialised complex designed to house chemical companies involved in the manufacturing, blending and distribution of chemicals, including chemicals classified as dangerous goods, will be built in western Singapore at an estimated cost of S$67 million, JTC said on Friday (Oct 31). The multi-user chemicals hub at Tuas View - the first of its kind in Singapore - will cater primarily to small...
JTC Corporation has launched three land parcels for sale under the Industrial Government Land Sales (IGLS) programme - two Confirmed List sites at Tuas South Street 9 and Tanjong Penjuru, and one Reserve List one at Tuas South Street 7. In a news release on Tuesday (Oct 28), JTC said all three sites are zoned for Business-2 development. The 0.8ha site at Tuas South Street 9 has a tenure of 20 years and...
Industrial land prices and rentals have continued to moderate in the third quarter of this year, according to the latest quarterly report on industrial properties by JTC. Industrial land prices in the third quarter fell 0.9 per cent from the previous quarter, following a 0.7 per cent rise in the previous quarter. However, on a year-on-year basis, prices edged up 0.2 per cent. In the multi-user...
To cater to its expanding e-commerce logistics business and the growing market, Singapore Post (SingPost) is investing about S$182 million to develop a three-storey eCommerce Logistics Hub in Tampines LogisPark. The company said in a statement on Tuesday (Oct 14) that the e-commerce logistics market in Asia Pacific is estimated to grow to more than US$175.24 billion by 2016, and the new logistics hub...
Transfers of industrial properties due to corporate restructuring will now be exempted from Seller's Stamp Duty, after the Stamp Duties Amendment Bill was passed in Parliament on Wednesday (Oct 8). Senior Minister of State for Finance and Transport Josephine Teo said the exemption is granted to minimise the impact of the Seller's Stamp Duty on non-speculative business transactions. These include...
The first multi-tenanted development in Singapore hosting an integrated ecosystem of companies in the surface engineering industry, the JTC Surface Engineering Hub, was officially opened on Thursday (Oct 9). The S$59 million hub sits on a 1.9-hectare site at the newly-redeveloped Tanjong Kling estate. A key feature is its centralised wastewater treatment plant, which helps companies involved in surface...
Demand for Singapore industrial space fell sharply during the third quarter amid a continued patchy performance by the manufacturing sector, real estate services firm DTZ said on Thursday (Oct 9). Citing caveats from the Urban Redevelopment Authority's REALIS, DTZ said sales of strata-titled industrial properties fell by about 36 per cent quarter-on-quarter during the July-September period to 203...