Average monthly gross rent for hi-tech industrial space up 1.6% in Q1 Better days may be ahead for landlords of industrial space, with rents having stopped falling for some properties and even rising slightly for others. According to DTZ, the average monthly gross rent for hi-tech industrial space, including that at business and science parks, was $3.15 per sq ft in the first quarter of 2010. This is a...
Industrial Space
Funding of up to $1m for any project with cutting-edge innovations JTC Corporation is looking for 'cutting-edge' ideas from the private and public sectors and academic institutions on how to intensify land use and create new industrial space.Ins And it will provide funding of up to $1 million for each project proposal. The industrial landlord has decided to open up its innovation 'dream fund' - created...
Property consultant Colliers International said Singapore's industrial property sector will recover by the second quarter of this year. It said the industrial property price index is poised for recovery in the fourth quarter of 2009 at the earliest or by the second quarter of this year at the latest. Colliers cited several reasons for its assessment. Historically, the industrial property sector lags the...
Property consultancy DTZ said office and industrial rents here continued their downward trend in the second quarter this year. For the office market, average monthly gross rents of prime offices in Raffles Place fell by 19 per cent to S$9.70 per square foot, compared to a 25 per cent fall in the previous quarter. Office rents in the Central Business District (CBD) fringe and de-centralised areas suffered...
The rental cost for industrial properties in Singapore could come down by as much as 30 per cent this year. Property consultants said this is due to a drop in demand as companies scale back their space as well as increased supply. A slump in demand for Singapore's exports has led to factories running at excess capacity and this has prompted companies to either put expansion plans on hold, or even scale...
Real estate consultancy firm Colliers International says the industrial properties market has been hit by the global financial crisis. Its latest bi-annual survey found that rents, land and capital values of industrial properties in most cities across the Asia Pacific, except for Jakarta, contracted by up to 40 per cent. The study of 13 key cities in the region was conducted between October 2008 and...
Developers interested in purchasing a 2.5 hectare industrial development site at Woodlands can now apply to the Urban Redevelopment Authority (URA) for it to be put up for tender. The URA has released the detailed sale conditions for the reserve list site, which is bordered by Woodlands Avenue 4 and Woodlands Industrial Park E5. The 60-year lease site has a gross plot ratio of 2.5, with a maximum...
Industry watchers said rentals for industrial properties could fall by three to five per cent in the first quarter this year, due to weaker demand and the dismal economic outlook. On the whole, analysts did not expect landlords to cut rents outright. Instead, the landlords might choose more innovative measures to help their tenants cope with the tough times. Manufacturers and exporters had been seeing...
AFTER a record performance last year, JTC - Singapore’s biggest industrial landlord - expects demand for industrial space to weaken in line with slowing economic growth this year. Operating income in fiscal year 2007 rose 5 per cent to $1.1 billion for the state-owned developer, due mainly to higher allocation of ready-built facilities and prepared industrial land. Take-up of its net industrial land...
JTC Corporation has reported a record take-up of some 246,300 square metres of its ready-built space last year, surpassing the previous record seen in 2005. The bouyant industrial property market last year helped JTC to book a record surplus of S$1.183 billion, up 50 per cent from 2006. The numbers were also boosted by impairment loss write-backs of nearly S$159.4 million on its properties. But JTC has...