In response to demand for more flexible use of industrial space, the Urban Redevelopment Authority (URA) and JTC will be piloting new land use guidelines at a multi-tenanted building to be developed by JTC and located within Woodlands North Coast on a site zoned Business 1-White. The Woodlands pilot development will support manufacturing companies in co-locating their service-driven activities like...
Singapore Industrial
Industrial prices and rentals continued their decline for a seventh consecutive quarter in the last three months of 2016. Prices fell a further three per cent in the fourth quarter, and rentals by 0.5 per cent, said JTC on Thursday. For the year, industrial prices retreated 9.1 per cent, and rentals, 6.8 per cent. This was steeper than the 1.7 per cent decline in prices and the 2.1 per cent in rentals...
PRICES of industrial space in Singapore fell a further 3 per cent in the fourth quarter of 2016, while rentals dipped 0.5 per cent, according to official JTC statistics released on Thursday morning. For the full year, industrial prices and rentals have retreated 9.1 per cent and 6.8 per cent respectively. Occupancy levels bucked a falling trend to increase 0.4 percentage points to 89.5 per cent in the...
THE shine is coming off industrial units. Waning investment yields and demand from end-users have kept a lid on buying interest. The numbers say as much. The number of strata transactions has been falling since the peak of 2012. Based on the caveats lodged, the figure dipped by a fifth (20.7 per cent) last year from the year before; the 849 such units sold in 2016 made for the fourth straight year of...
THE misuse of industrial space has become rampant, and with tenants having settled into units in new strata projects offering office-like designs and proximity to transport nodes, the trend has become even more conspicuous. Businesses ranging from law firms and real-estate agencies to accounting and tax advisory firms, recruitment agencies, training providers, commercial schools and boutique investment...
THE developer of Gemini@Sims, a freehold industrial project in Kallang, is looking to sell the entire ground floor of 13 strata units via an expression of interest. JLL, the appointed marketing agent, said Wenul Assets (Industrial) Pte Ltd is expecting offers above S$900 per square foot (psf) over the strata floor area. "The vendors are open to selling all the units to a single buyer or to multiple...
TO support the beleaguered offshore and marine (O&M) industry through a protracted downturn, JTC has given between 3 per cent and 10 per cent in rental rebates to all its O&M tenants and lessees for 2017. This marks the first rental rebate for industrial properties in Singapore since the global financial crisis in 2009. While the industry welcomed the move, some have questioned how far it would go...
An eight-storey freehold industrial building along Little Road near Tai Seng MRT Station is being sold for S$33.5 million. The price works out to S$771 per square foot based on the net lettable area of 43,451 sq ft. The seller, Kim Loong & Sons, developed the property which was completed about two years ago, said Kim Chong Wah, the company's managing director, when contacted by The Business Times. This...
Pei Fu Industrial Building is your typical industrial building found all over Tai Seng. Located at the end of New Industrial Road, just off the busy intersection of Upper Paya Lebar Road and Bartley Road East, the old six-storey structure houses a hodge-podge of businesses ranging from safety equipment vendors to interior fitting firms. On the first floor, there is a food wholesaler, where trucks are...
THE Ministry of Trade and Industry (MTI) has launched its Industrial Government Land Sales (IGLS) Programme for the first half of 2017. There will be 6 sites in the confirmed list and 5 sites in the reserve list, with a total site area of 11.25 hectare (ha). The confirmed list of industrial sites will total 3.27 ha. These include plots in Tuas South Link 3, Tampines North Drive 3, Jalan Lam Huat and...