The Singapore government has set aside nearly 25 hectares of industrial land for the first half of 2013, according to the Industrial Government Land Sales Programme (GLS) released by the Ministry of Trade & Industry (MTI) on Wednesday. A new regulation by the government now requires developers to build a minimum number of large factory units. This applies to four large land plots with a site area of...
Industrial
A S$200 million logistics hub broke ground at Jurong West on Friday. Named Supply Chain City, the facility is the brainchild of logistics firm YCH. Apart from serving as its headquarters, the facility will also cater to other companies needing logistics space. YCH is transforming a 6.5-hectare area in western Singapore to build its new home come 2014. It will house a five-storey warehouse, a...
The Republic's industrial sector is near a tipping point, and rents are expected to decline 7 to 10 per cent over the next two years on rising vacancy rates, DBS Vickers said in a research report yesterday. Lower completion of new industrial space over the last few years had resulted in record low vacancy levels and a strong surge in industrial capital values and rents since the start of this...
Leading business space solutions provider Ascendas Land (Singapore) and Mitsui & Co on Monday held a ground breaking ceremony for Fusionopolis Phase 5 at one-north. Projected to cost approximately S$370 million, Fusionopolis Phase 5 comprises a 17-storey building with approximately 59,300 square metres of business space and 5,500 square metres of retail space. The development also includes a separate...
JTC Corporation on Wednesday launched the sale of three industrial land parcels for public tender. The sites are located at Woodlands Avenue 10 and Tuas South Street 8. Measuring 1.07 hectares, the plot off Woodlands Avenue 10 has a lease term of 30 years and a maximum permissible gross plot ratio of 2.5. Tan Boon Leong, executive director for industrial services at Colliers International said the site...
The Urban Redevelopment Authority (URA) has awarded the tender for the industrial site at Yishun Avenue 9 (Parcel 6) to Soilbuild Group Holdings Ltd. The company submitted the highest bid in the tender for the site at $31.688 million. Tender for the industrial site was launched on 29 August 2012 and closed on 26 September 2012. The land parcel was offered for sale on a 30-year lease term....
Leading industrial landlord JTC Corp is launching three sites for sale by tender today under the Confirmed List of the Industrial Government Land Sales (IGLS) programme. The largest plot, at Serangoon North Ave 5, is zoned for Business 1 development and has a 30-year lease. It sits on about 0.75 ha and has a maximum permissible gross plot ratio of 2.5. The other two sites at Tuas South St 8, have shorter...
The Urban Redevelopment Authority's (URA) Price Index for industrial properties is expected to register an increase of about eight per cent in the third quarter. This is according to analysts ahead of flash estimates to be released by the URA on Monday. While price increases are set to moderate, there are concerns that the uptrend in industrial property prices may spur policy changes to cool the...
The Urban Redevelopment Authority (URA) closed the tender for the industrial site at Yishun Avenue 9 (Parcel 6) today. The site at Yishun Avenue 9 was launched for public tender on 29 August 2012. It was originally on the Reserve List of the Government Industrial Land Sales Programme. URA had, on 14 August 2012, accepted a successful application for the site to be put up for sale. The site was offered for...
Two industrial sites at Sunview Road and Tuas South Street 8 have been launched for public tender by JTC Corporation. Both sites have been slated for clean and light industrial uses only. The site at Tuas South Street 8 has a shorter tenure of 22 years. This is in line with the government's efforts to make industrial property more affordable. Still, some analysts believe the site will attract strong...