SOILBUILD Business Space Real Estate Investment Trust, or Soilbuild Reit, said its manager is proposing to buy an industrial property at 2 Bukit Batok Street 23 for S$100.5 million. At the same time, Soilbuild plans to enter into a master lease arrangement with the seller of the property, SB Westview Investment, which is a subsidiary of sponsor Soilbuild Group Holdings. The lease is for seven years....
Singapore Industrial
In response to growing demand for database storage, global data centre provider Digital Realty Trust launched its second data centre in Singapore, Digital Loyang Way, on Thursday (Jun 2). The 177,000 square feet facility is designed to accommodate a wide range of customer deployments from cloud service providers to financial services customers in an efficient and eco-friendly manner. Located in...
A new data centre offering high-speed networks between Singapore and the region opened on Monday (May 30), in response to growing demand from companies looking for secure data storage solutions. The 200,000 square foot 1-Net North Data Center, which has been running since April, has bomb blast-proof walls and eight tiers of security barriers for added protection. Costing S$200 million to build, it is...
The Republic will conduct trials on the world's first tropical data centre (TDC) in the third quarter of this year, announced Communications and Information Minister Dr Yaacob Ibrahim on Monday (May 30). The trials are aimed to prove if data centres can function optimally at temperatures of up to 38 degrees Celsius and ambient humidity of up to or exceeding 90 per cent. Currently, data centres are...
THE vacancy rate of warehouses in Singapore could hit close to 12 per cent in the coming quarters - around global financial crisis levels and up from the current 9.6 per cent in Q1 2016. It is no secret that the industrial property market is now soft, but global property investment management firm TH Real Estate believes that a severe supply overhang will cause the vacancy rates to spike. That said,...
JTC has awarded the tenders for two industrial sites at Tampines Industrial Drive and Tuas South Link 1 to the highest tenderers, Hock Lian Seng Holdings and Diamond Land respectively. Hock Lian Seng bid S$3.708 million for the 4,890 sq m site at Tampines Industrial drive, which drew four bids. The tenure is for 20 years, and the site is zoned "Business 2" with a gross plot ratio of 1.4. Meanwhile,...
Industrial rents in Singapore fell 2.7 per cent quarter on quarter (q-o-q) and 5.1 per cent year on year (y-o-y) in the first quarter of 2016, JTC Corporation’s latest statistics released on Thursday show. Industrial property prices have also fallen 2.5 per cent q-o-q and 4.8 per cent y-o-y in Q1 2016. Vacancy rates island-wide also rose by 0.5 percentage point to 9.9 per cent. However, despite higher...
Prices and rentals for industrial space in Singapore fell further in the first quarter of 2016, declining by about 5 per cent compared to the same period a year ago, according to figures released by JTC. Occupancy rates fell in tandem during the quarter, declining 0.6 per cent from the previous quarter. The national principal developer and manager of industrial estates said on Thursday (Apr 28) that...
PRIVATE equity giant Blackstone is understood to be stitching a deal to buy a majority interest in three Singapore properties owned by Sime Darby. It is expected to take a stake of about 75 per cent in entities owning the properties; the deal values the properties at about S$300 million. The yield, on an ungeared basis, is estimated at 6 per cent. Sime Darby, the listed Malaysian plantation-based...
Social networking site LinkedIn opened its S$80 million Singapore data centre on Wednesday (Apr 6) - the company's first data centre outside of the United States. The 23,500-square-feet facility is housed in Digital Realty Trust's data centre in Jurong, and will process all of LinkedIn’s online traffic in the Asia-Pacific region and handle about a third of global traffic, it said in a news release....