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...
Singapore Industrial
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...
THE Government has moved to apply the brakes on the industrial land sales programme. Following the move to curb supply of land for private homes and commercial space, the Ministry of Trade and Industry (MTI) said it would move the remaining site - at Tampines Industrial Ave 4 - on the confirmed list for this year to the reserve list, and suspend its confirmed list of sites for sale in the first half of...
Singapore's Trade and Industry Ministry (MTI) announced on Wednesday that it is suspending the Confirmed List for the Industrial Government Land Sales (GLS) Programme. This is due to what it calls "significant and dynamic changes in global economic conditions". MTI said in view of the current uncertainties, the site at Tampines Industrial Avenue 4 will be moved from the Confirmed List to the Reserve List...
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...
An industrial facility in Changi Business Park Vista was sold for S$63 million to Hamburg-based property management company Union Investment Real Estate, on a sale and leaseback term. The 198,000 square foot Applied Materials Building is Union's second investment in Singapore, following the purchase of two office buildings in 2007. Source : Channel NewsAsia - 29 Oct...
The Urban Redevelopment Authority has awarded the tender for an industrial site at Kallang Pudding Road to Orion-Four Development. Orion-Four submitted the sole bid of S$10.8 million for the site which has an area of 5,743.2 square metres. The site was launched for public tender on September 3 and the tender closed on October 7. It was offered for sale on a 60-year lease. Source : Channel NewsAsia - 10...
EVEN with the manufacturing part of the economy facing difficulties, demand for industrial space - particularly in business parks - is apparently still healthy, according to experts from the property firm DTZ. By contrast, the market for office space is softening, the firm says. Executive director Ms Chua Wei Lin said: “Demand for private industrial properties - in particular, hi-tech and business park...
Sim Lian Land has been awarded the tender for an industrial site at Ubi Avenue 4. The company submitted a bid of S$26.3 million for the 60-year lease site. The site has an area of 11,491.5 square metres and a maximum permissible gross plot ratio of 2.5. It can be developed into a range of clean and light industrial uses. Source : Channel NewsAsia - 3 Oct...