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...
Industrial
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 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 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 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...
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...
Industrial developer and landlord JTC Corporation is planning to build cost-savings features into upcoming wafer fab clusters to attract more such companies into Singapore. It is looking at implementing a centralised power and water plant in each wafer fab cluster, which could help companies save hundreds of thousands of dollars in operational costs. Wafer fab plants are heavy utility users. Currently,...
Niche property developer Soilbuild Group has won the tender to build, own and operate a stack-up factory in the Tuas area. The award for the 5-hectare site at Tanjong Kling Industrial Estate was given out by JTC Corporation. This is the first time that a stack-up factory development has been awarded to a private developer. JTC said Soilbuild clinched the contract because its concept included enhanced...
The Urban Redevelopment Authority (URA) has launched an industrial site at Woodlands Industrial Park E5 for sale by public tender. The site has an area of 1.68 ha and is zoned for a Business 2 development. The tender for the site will close at noon on July 22. The URA also released the detailed sales conditions for a reserve list site at Kallang Pudding Road for industrial development. The 0.57 ha site...
JTC has achieved a record occupancy level for its ready-built facilities in the first quarter of 2008. Net allocation was 38,400 square metres, six-fold higher than the same period last year. In its quarterly report, JTC said this helped to boost the occupancy level for ready-built facilities by 1.3 percentage points to 93.9 percent. Termination level, however, has gone up as well - to 51,100 square...