Experts have said that commercial and industrial property will continue to outperform the office market this year. This comes after Urban Redevelopment Authority (URA) figures showed higher quarterly prices for industrial (4 per cent quarter-on-quarter) and commercial assets (13.8 per cent quarter-on-quarter). Meanwhile, city rentals have slowed. The trend of cooling office rents is clear. While URA's...
Industrial Property
Industrial property - a less glamorous and often neglected asset class that includes business parks, high-tech industrial space, factories and warehouses - has been thrust into the limelight in Singapore following its stellar performance in the first quarter of the year. According to the Urban Redevelopment Authority, the sector clocked rental and capital value gains of 6.3 and 8.3 per cent, respectively,...
Property investment sales rose nearly 3 percent to S$8.36 billion in the first quarter compared to the previous three months. But this was still 36.6 percent below the peak of S$13.2 billion worth of sales amassed in the third quarter last year. This is according to latest figures from property consultants Colliers International. Colliers said with the exception of the commercial and industrial sectors,...
Mapletree Industrial Fund has bought an industrial property from First Engineering Plastics for nearly S$22 million. The property comprises three buildings with a gross floor area of 14,387 square metres. The land, which spans more than 10,000 square metres, is located in the established Woodlands East Industrial Estate. First Engineering Plastics will lease back the premises following the sale. The...
Ascendas Real Estate Investment Trust (A-REIT) on Monday bought a light industrial property at Loyang Way for S$25 million. It signed a put and call option agreement with Seow Khim Polythelene, a manufacturer of consumer plastic products. Seow Khim will lease back the property for 12 years with stepped increases in rentals. It also has an option to renew the lease for another three years. A-REIT said the...