Industrial and commercial properties managed by the Housing and Development Board (HDB), JTC Corporation and the Singapore Land Authority (SLA) will get a 15 per cent rental rebate for one year. This will benefit more than 31,000 tenants, lessees and temporary occupation licensees and amount to S$306 million. The rebate will take effect from January 1, 2009, to December 31, 2009. It is part of the...
JTC
The Singapore government is proceeding to put in the infrastructure to facilitate the growth of Jurong Lake District. This follows the unveiling of the area's development blueprint in April this year. Giving an update on Monday, both the Urban Redevelopment Authority (URA) and JTC said the measures include constructing a new spinal road, expanding the Jurong East MRT station and redeveloping the bus...
JTC Corporation reported a 38.5 per cent drop in net allocation of prepared industrial land (PIL) for the third-quarter 2008, on a year-on-year basis. Third quarter figures stood at 34.5 hectares, similar to the previous quarter but lower than the 56.2 hectares seen in the same period last year. Property consultancy Jones Lang LaSalle told Channel NewsAsia the contraction reflects the weakening of...
Beijing has "The Bird's Nest". Singapore's Esplanade is sometimes referred to as "The Durians". Now, meet "The Egg" - Singapore's new S$20m venue for arts performances. The oval-shaped Genexis Theatre is sandwiched between two office buildings at Fusionopolis at one-north, an upcoming R&D hub in Singapore. It is the first theatre built by JTC, Singapore's largest industrial landlord. JTC's Assistant...
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...
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...
Singapore is seeing an overwhelming demand for research and development space, particularly from the info-communication, media and science sectors. So to meet the growing need, the government said it will expand the Fusionopolis cluster at one-north. This was revealed at the ground-breaking ceremony of Phase 2B of the development on Friday. The ground-breaking marks the start of Phase 2B of...
JTC Corporation on Wednesday launched a tender for a mega development site at Changi Business Park, and the 4.7-hectare site is likely to see bids as high as S$600 million. The winning bidder will have to build an integrated development comprising a business park, retail activities and a hotel. Changi Business Park has been a hub for businesses that need to stay close to the airport or away from the city...
JTC will conduct a strategic review exercise in light of challenges from an increasingly globalised economic environment. According to JTC’s Chairman, Cedric Foo, this involves looking into maximising Singapore’s land use and boosting the industrial property market. JTC will also continue to undertake large-scale projects essential to Singapore’s growth. The theme at JTC’s 40th anniversary...