Singapore's industrial property market will continue to have a mixed outlook for this year, according to a report released by Colliers International on Monday (Jan 12). The real estate services firm said that companies are expected to remain cost-sensitive and may take longer to evaluate their business space needs. This is partly due to the fragile global economic outlook and lingering risks from...
Industrial Space
Weak demand for conventional factory space, coupled with a big injection of supply to existing stock, contributed to falling rents for industrial space in the fourth quarter of last year, said property consultancy DTZ Research on Monday (June 1). Demand for space in business parks and high-tech industrial facilities, on the other hand, continued to rise, underpinning rents for this sector, it said,...
The Government is tightening the supply of industrial land. A total of 14 sites have been placed under the Industrial Government Land Sales (IGLS) Programme for first half of 2015 - one fewer than for the preceding six months. Of the 14, nine sites have been placed on the Confirmed List. Of these, three are located at Tampines Industrial Drive, four at Tuas South, and one each at Woodlands Avenue 10 and...
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...
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...
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...
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...