The rapid growth in e-commerce demand for retail purchases represents an opportunity for the logistics services market to grow further in Singapore, said Colliers International in a report. The Glimpsing the Road Ahead: Reshaping the Logistics Market report, citing a study by the payments technology company WorldPay, said the e-commerce market in Singapore is tipped to expand 48 per cent to US$7.4...
Singapore Industrial
JTC will launch a tender for an industrial site at Tuas South Link 3 (Plot 19) after receiving an application with a committed bid price of not less than S$2 million. As the minimum price committed by the applicant is acceptable to the government, the site is being released for public tender, JTC said on Friday. The identity of the applicant was not disclosed. The site, which has a 20-year tenure,...
Thanks to the rising popularity of food delivery services and e-commerce, demand for food factories in Singapore is expected to remain healthy, even though the demand will likely lag behind supply in 2019-2020, said Tricia Song, head of research for Singapore at Colliers International. Her comments on Wednesday accompany the commercial real estate services provider’s research report tracking the...
JTC has put up for tender a 0.83 hectare site in Gul Circle (Plot E), its fourth of five confirmed list sites for the first half of the 2019 Industrial Government Land Sales Programme. The site has a lease period of 20 years, with a maximum gross plot ratio of 1.4 and a maximum building height of 24 metres above mean sea level, the government agency said on Tuesday. It is also zoned for Business-2...
Rentals and prices of industrial space in Singapore remained relatively stable in the first quarter of this year compared with the previous quarter, according to the latest data from industrial land and infrastructure agency JTC Corp. The price index was down 0.1 per cent, while the rental index was flat. Compared with a year ago, the price index was unchanged while the rental index eased 0.2 per...
CapitaLand has sold a group of companies that own and manage its self-storage business, StorHub, for an aggregate S$179.5 million to an unrelated and undisclosed buyer. Of the total aggregate, S$167.5 million is in outstanding shareholder loans owed by the group of companies to StorHub Group Pte Ltd and has been assigned to the buyer, who will pay in stages. StorHub Group Pte Ltd will continue to be...
Edmund Tie & Company (ET&Co), the sole marketing agent for a rarely available freehold redevelopment site near the Aljunied MRT station, is pleased to offer this property for sale. Strategically located in the city fringe within a mature industrial cluster, the property occupies a regular plot with a site area of 1,427.4 square metres (sq m) or 15,364 square feet (sq ft). The property enjoys excellent...
A six-storey detached industrial building at 115 Eunos Avenue 3 is up for sale by expression of interest by marketing agent Cushman & Wakefield. It joins other properties in the city fringes that have put on the market this week, including a freehold four-storey commercial building at 118 Joo Chiat Road and a freehold redevelopment site at 51 Lorong 21 Geylang. They have indicative prices of S$20...
The receivers and managers of Big Box Pte Ltd are conducting an expression of interest (EOI) exercise for its Big Box mall in Jurong East. It has a remaining land tenure of 30 years from March 23, 2007 (18 years unexpired). The site area is approximately 606,639 square feet (sq ft), and total gross floor area is about 1.4 million sq ft. The eight-storey Big Box mall was constructed in 2014 and...
Sabana Reit's divestment of a Tuas industrial building is off for now after the purchaser did not obtain approvals from JTC. The buyer Kim Soon Lee (Lim) Heavy Transport is not prepared to further extend the long-stop date, the Reit said in a Singapore Exchange filing on Saturday. In September 2018, Sabana had proposed to sell the building at 1 Tuas Avenue 4 for S$11.18 million in cash, 52 per cent...