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...
Singapore Industrial
JTC Corporation on Monday (Sep 29) launched two Confirmed List sites at Tuas South Street 9 and Tampines North Drive 1, as well as one Reserve List site at Tuas South Street 6, for sale. The land sales were launched under the second half of the 2014 Industrial Government Land Sales (IGLS) Programme, it announced in a news release on Monday. The two Confirmed List sites are zoned for Business-2...
Citimac Industrial Complex at the junction of Macpherson Road and Paya Lebar Road has been put up for collective sale, with the owners seeking bids of S$550 million and above. Cushman & Wakefield, which is handling the en-bloc sale, described the complex as a rare developable site near the Paya Lebar iPark vicinity and the Paya Lebar Regional Centre. According to Cushman, Citimac occupies a land area...
Amid restructuring trends in the economy, Pan Asia Logistics has officially opened its new warehouse at Tuas, with an automated storage and retrieval system. The new system is expected to boost productivity by some 70 per cent. It can store up to 700,000 different spare part types and will result in space savings of about 30 per cent. Pan Asia Logistics said the new facility - its second facility in...
An industrial site at Gambas Crescent (Parcel 4) attracted four bids at the close of tender by the Urban Redevelopment Authority (URA) on Tuesday (Aug 26). The highest bid of S$35 million came from NSS Realty Pte Ltd, while the lowest bid of S$25.6 million was put in by Hock Lian Seng Holdings. The 1.57-hectare site is zoned for Business-1 development and has a 30-year tenure and a maximum gross plot...
JTC Corporation on Tuesday (July 29) launched two industrial sites at Tuas for sale under the second half 2014 Industrial Government Land Sales (IGLS) programme. The two sites - at Tuas Bay Close and Tuas South Street 7 - were launched as part of the Government's efforts to provide industrial space and offer more choices for industrial development, the company said in its statement. For the Tuas Bay...
Prices and rentals of industrial space continued to moderate in the second quarter, as industrial occupancy rates continued to fall, according to a quarterly report by JTC. Released on Thursday (July 24), the report said industrial occupancy rates in the second quarter fell by 0.9 percentage point from the previous quarter to 90.7 per cent – the lowest level since late 2007. For multiple-user factory...
Prices and rentals of industrial space continued to moderate in the second quarter, as industrial occupancy rates continued to fall, according to a quarterly report by JTC. Released on Thursday (July 24), the report said industrial occupancy rates in the second quarter fell by 0.9 percentage point from the previous quarter to 90.7 per cent – the lowest level since late 2007. For multiple-user factory...
With growing internet connectivity, there is increasing demand for data centres which house hardware servers to support networks and databases. Industry observers say demand in Singapore is also driven by its status as a regional hub. Keppel T&T already owns two data centres in Singapore and it is building a third. It says growth in internet and mobile usage, as well as cloud computing, is driving...
Rents for prime warehouse space in Singapore weakened for the third straight quarter in the April-June period, according to the latest report by property services firm Colliers International on Friday (July 11). It estimates that the average monthly gross rents of ground-floor warehouse space fell 1.6 per cent quarter-on-quarter to S$2.54 per square foot per month. The average rent for upper-floor...