CONSTRUCTION firm Lian Beng Group announced on Monday it has acquired Khong Guan Industrial Building, an eight-storey freehold building at 20 Mactaggart Road, for S$31 million. The deal was done through Lian Beng's wholly owned subsidiary Smooth Venture. The light industrial building has a gross floor area of 57,019 square feet. The purchase amount means the price per square foot is approximately...
Industrial
AMID stringent government policies, private property owners require astute advisers to hunt for viable investment opportunities in a tight industrial property market. Singapore's industrial landscape has undergone notable shifts in ownership and policies over the past decade, as the economy progressed in diversity and value-added activity. In the decade from 1997 to 2006, an average 21 per cent of...
AMID stringent government policies, private property owners require astute advisers to hunt for viable investment opportunities in a tight industrial property market. Singapore's industrial landscape has undergone notable shifts in ownership and policies over the past decade, as the economy progressed in diversity and value-added activity. In the decade from 1997 to 2006, an average 21 per cent of...
Average industrial rents island-wide could fall 6-8 per cent year on year in the fourth quarter of 2016, as industrialists take bold consolidation and relocation steps to cope with challenging business conditions, said a Knight Frank report released on Friday. Rentals have fallen 4.4 per cent cumulatively for the first half of this year, according to official data from JTC. Tan Boon Leong, executive...
JTC launched on Tuesday a site at Tuas South Link 2 (Plot 11) under the second-half 2016 Industrial Government Land Sales programme. The 0.50-ha site, zoned for Business-2 development, will be the third of the seven confirmed list sites for the second half of 2016. It has a 20-year tenure with a maximum permissible gross plot ratio of 1.4. Industrialists are invited to apply for the site before the...
AS part of its global exercise to go asset-light, Wartsila Singapore - the Singapore unit of Finland-listed marine and energy player Wartsila - is putting up five industrial properties here for sale via an expression of interest (EOI). Two properties located at 11 Pandan Crescent and 14 Benoi Crescent will be sold on sale-and-leaseback arrangements, while the other three properties at 43, 45 and 47 Gul...
Staring next year, all operators of factory-converted dormitories (FCDs) will have to meet four new conditions when seeking approval to use their industrial premises to house foreign workers, announced the Ministry of Manpower (MOM). In a press release on Wednesday (Aug 24), MOM said the new rules follow consultations with industry stakeholders and calls earlier this month to operators to raise housing...
CAMBRIDGE Industrial Trust Management on Monday said it has entered into an agreement with UBZ System for the proposed sale of its remaining leasehold interest in 2 Ubi View for S$10.5 million. According to the manager of Cambridge Industrial Trust (CIT), the proposed sale originated from an "unsolicited offer" from UBZ. The sale consideration represents a premium of about 6 per cent above the...
Prices and rentals of industrial space continued to fall in the second quarter in tandem with occupancy, according to data released on Thursday (Jul 28) by JTC. Prices fell by 2.3 per cent in the three months ended Mar 31 compared with the preceding quarter. On a year-on-year basis, prices fell by 6.5 per cent. Rentals declined 1.7 per cent compared with the preceding quarter, and by 6.1 per cent...
INDUSTRIAL rents and prices have fallen for the fifth straight quarter as headwinds on the manufacturing and economic fronts, coupled with uncertainty in the market and supply outstripping demand, took its toll on industrial property in Singapore. The all-industrial rental index registered a 6.1 per cent year-on-year dip and fell 1.7 per cent on a quarterly basis, the latest statistics from JTC...