quarterly market report industrial properties · market report for the industrial property market...

QUARTERLY MARKET REPORT

INDUSTRIAL PROPERTIES

FOURTH QUARTER 2019

CONTENTS

Page

Market Report for the Industrial Property Market (4Q 2019)

1 Executive Summary 1

2 Market Trends in 4Q 2019 2

3 Allocation of JTC’s Ready-Built Facilities (RBF) 6

4 Allocation of Industrial Land 6

5 Outlook on Future Supply 7

6 Conclusion 9 Annex – Industrial Property Market Statistics

A1 Price Statistics 10

A2 Rental Statistics 14

A3 Stock and Vacancy Statistics 17

A4 Potential Supply Statistics 24

A5 Statistics on Industrial Units Available for Sale 26

A6 List of Major Industrial Projects Completed in 4Q 2019 27

A7 List of Major Industrial Projects in the Pipeline as at End of 4Q 2019 28

B Statistics on JTC’s Prepared Industrial Land and Ready-Built Facilities 36

To be completed by 2020

~2.2 million sqm

Beyond 2020

~2.7 million sqm

Uncompleted strata units for sale

~170 units

Singapore Industrial PropertiesQuarterly Market Report

4th Quarter 2019

Change over previous quarter

Change over previous year

Future industrial space supply

Prices and rentals of industrial space remained relatively stable.

Price index of allindustrial space

Totalindustrial space

Rental index of allindustrial space

Occupancy rate of industrial space

0.0%0.1% points*

0.3%

million sqm0.0

million sqm0.90.1%points* 0.1%

0.2%

*Refers to absolute change over previous quarter/year.

1

MARKET REPORT FOR THE INDUSTRIAL PROPERTY MARKET (4Q 2019) EXECUTIVE SUMMARY 1. In 4Q 2019, the occupancy rate of the overall industrial property market fell marginally by 0.1 percentage points compared to the previous quarter and one year ago. 2. Prices and rentals of industrial spaces remained stable. In 4Q 2019, price index of all industrial space fell by 0.2% as compared to the previous quarter while the rental index remained unchanged during the same period. Compared to a year ago, the price index fell by 0.3% while the rental index rose by 0.1%. An overview of price, rental and occupancy rate movements for the quarter is shown in Exhibit 1.

Exhibit 1: Price, Rental and Occupancy Rate Movements in 4Q 2019

3Q 2019 4Q 2019

% Change

Over Previous Quarter

Over Previous

Year

Price

All Industrial 89.9 89.7 -0.2 -0.3

Multiple-User Factory 93.4 93.2 -0.2 -0.6

Single-User Factory 79.9 79.8 -0.1 0.3

Rental

All Industrial 91.0 91.0 0.0 0.1

Multiple-User Factory 89.0 88.9 -0.1 -0.1

Single-User Factory 96.8 96.9 0.1 0.5

Business Park 113.2 113.3 0.1 1.3

Warehouse 84.7 84.8 0.1 -0.2

Occupancy Rate1

All Industrial 89.3% 89.2% -0.1 -0.1

Multiple-User Factory 87.1% 87.5% 0.4 1.0

Single-User Factory 91.1% 90.8% -0.3 -0.1

Business Park 86.2% 86.2% 0.0 1.3

Warehouse 88.1% 88.0% -0.1 -1.5 Note: 1 The % change refers to absolute change over previous year/quarter.

3. In 2020, around 2.2 million sqm of industrial space is expected to be completed. Between 2021 and 2023, another 2.7 million sqm of industrial space is expected to be completed. This amounts to an average annual supply of 1.2 million sqm in the next four years. As a comparison, the average annual supply and demand of industrial spaces were approximately 1.1 million sqm and 1.0 million sqm respectively in the past three years. The higher supply quantum is to cater to replacement space for lessees affected by JTC’s Industrial Redevelopment Programme (IRP) to rejuvenate older industrial estates to support future economic growth.

2

MARKET TRENDS IN 4Q 2019 4. In 4Q 2019, the occupancy rate for the overall industrial property market fell marginally by 0.1 percentage points on a quarter-on-quarter and year-on-year bases to 89.2%. (Exhibit 2a). Exhibit 2a: Occupancy Rate of Industrial Space

5. For multiple-user factory space, the occupancy rate increased by 0.4 percentage points on a quarter-on-quarter basis to 87.5%. On a year-on-year basis, the occupancy rate increased by 1.0 percentage points (Exhibit 2b). Exhibit 2b: Occupancy Rate of Multiple-User Factory Space

86.0

88.0

90.0

92.0

94.0

-200

0

200

400

600

800

2012

Q4

2013

Q2

2013

Q4

2014

Q2

2014

Q4

2015

Q2

2015

Q4

2016

Q2

2016

Q4

2017

Q2

2017

Q4

2018

Q2

2018

Q4

2019

Q2

2019

Q4

Occupancy Rate (%)

Change in Stock

('000 sqm)

Change in Available Stock (LHS) Change in Occupied Stock (LHS) Occupancy Rate (RHS)

82.0

84.0

86.0

88.0

90.0

92.0

-50

0

50

100

150

200

250

2012

Q4

2013

Q2

2013

Q4

2014

Q2

2014

Q4

2015

Q2

2015

Q4

2016

Q2

2016

Q4

2017

Q2

2017

Q4

2018

Q2

2018

Q4

2019

Q2

2019

Q4

Occupancy Rate (%)

Change in Stock

('000 sqm)

Change in Available Stock (LHS) Change in Occupied Stock (LHS) Occupancy Rate (RHS)

3

6. Rentals of industrial spaces remained stable. In 4Q 2019, the rental index of all industrial space remained unchanged on a quarter-on-quarter basis and inched up by 0.1% compared to a year ago. On the other hand, the rental index for multiple-user factory space fell marginally by 0.1% both on a quarter-on-quarter and year-on-year bases (Exhibits 3a and 3b).

Exhibit 3a: Rental Indices of Industrial Space

Exhibit 3b: Rental Indices of Industrial Space

90.9 90.9 91.0 91.0 91.0

89.0 88.9 89.0 89.0 88.9

84

88

92

96

2018Q4 2019Q1 2019Q2 2019Q3 2019Q4

All Industrial SpaceMultiple-User Factory Space

Rental Index2012Q4=100

0

20

40

60

80

100

120

2009Q4 2010Q4 2011Q4 2012Q4 2013Q4 2014Q4 2015Q4 2016Q4 2017Q4 2018Q4 2019Q4

All Industrial Space Multiple-User Factory Space

See Exhibit 3b

Rental Index 2012Q4=100

4

7. The table below shows the rental indices for multiple-user factory space by planning region and land-use zoning (Exhibit 3c):

Exhibit 3c: Rental Indices of Multiple-User Factory Space by Planning Region and Land-Use Zoning (4Q 2012=100)

4Q 2018

1Q 2019

2Q 2019

3Q 2019

4Q 2019

% Change Over

Previous Quarter

Planning Region

Central 90.6 90.4 90.3 90.3 90.3 0.0

North 93.7 93.9 94.4 93.8 94.0 0.2

West 77.5 77.4 77.5 77.7 77.3 -0.5

East 90.4 90.5 90.4 91.0 91.0 0.0

North-East 82.9 82.7 83.0 82.3 82.3 0.0

Land-Use Zoning

Business 1 90.1 89.9 89.9 89.9 89.8 -0.1

Business 2 81.8 82.1 82.3 82.2 82.2 0.0

8. Prices of industrial spaces also remained stable. In 4Q 2019, the price indices for both all industrial space and multiple-user factory space fell by 0.2% on a quarter-on-quarter basis. Compared to a year ago, the price indices of all industrial space and multiple-user factory space fell by 0.3% and 0.6% respectively (Exhibits 4a and 4b). Exhibit 4a: Price Indices of Industrial Space

0

20

40

60

80

100

120

2009Q4 2010Q4 2011Q4 2012Q4 2013Q4 2014Q4 2015Q4 2016Q4 2017Q4 2018Q4 2019Q4

All Industrial Space Multiple-User Factory Space

See Exhibit 4b

Price Index2012Q4=100

5

Exhibit 4b: Price Indices of Industrial Space

9. The table below shows the price indices for multiple-user factory space by planning region, land-use zoning and remaining tenure (Exhibit 4c):

Exhibit 4c: Price Indices of Multiple-User Factory Space by Planning Region, Land-Use Zoning and Remaining Tenure (4Q 2012=100)

4Q 2018

1Q 2019

2Q 2019

3Q 2019

4Q 2019

% Change Over

Previous Quarter

Planning Region

Central 97.1 97.8 97.4 97.9 97.2 -0.7

North 82.2 81.4 81.8 81.4 82.4 1.2

West 84.2 83.3 83.0 83.3 82.9 -0.5

Others 87.3 86.5 86.1 85.0 84.5 -0.6

Land-Use Zoning

Business 1 93.9 93.9 94.0 94.4 94.0 -0.4

Business 2 80.7 80.3 79.3 78.5 78.6 0.1

Remaining Tenure

<30 years 87.5 88.8 87.1 85.8 85.5 -0.3

31-60 years 83.0 82.3 83.2 83.3 82.9 -0.5

>60 years 100.3 100.4 98.6 99.3 99.4 0.1

90.0 89.9 89.8 89.9 89.7

93.8 93.6 93.4 93.4 93.2

86

90

94

98

2018Q4 2019Q1 2019Q2 2019Q3 2019Q4

All Industrial Space

Multiple-User Factory Space

Price Index(2012Q4=100)

6

10. Transaction volume of industrial properties, estimated based on caveats lodged for industrial properties, fell by about 12% compared to a quarter ago and 6% compared to a year ago (Exhibit 5).

Exhibit 5: Transaction Volume of Industrial Properties

ALLOCATION OF JTC’S READY-BUILT FACILITIES (RBF) 11. In 4Q 2019, JTC allocated a total of 51,500 sqm of RBF space to industrialists, which included 27,400 sqm of high-rise space and 19,000 sqm of land-based factory space. Among the high-rise space that was allocated, about half was in JTC’s newer developments such as trendspace, JTC Chemicals Hub @ Tuas South, JTC Space @ Tuas, JTC Space @ Tuas Biomedical Park, JTC Space @ Tampines North and LaunchPad @ one-north. 12. Total RBF returns in 4Q 2019 was 53,400 sqm, of which 26,000 sqm was high-rise space and 17,600 sqm was land-based factory space. About 49% of the total returns was due to natural expiries or companies consolidating their operations.

ALLOCATION OF INDUSTRIAL LAND

13. In 4Q 2019, the tender for two Industrial Government Land Sales (IGLS) sites targeted for single-user developments located at Tampines North Drive 5 and Tuas West Avenue had closed. The site at Tampines North Drive 5 had a land area of 0.49 ha. It received two bids but was not awarded as the bids received were below reserve price. The site at Tuas West Avenue with a land area of 0.95 ha received one bid1. An overview of the past successful tender prices for IGLS sites targeted at single-user developments is shown in Exhibit 6.

1 The assessment of award of this site was still in progress when this report was released on 23 January 2020.

0

100

200

300

400

500

2016Q4 2017Q1 2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3 2018Q4 2019Q1 2019Q2 2019Q3 2019Q4

Number ofCaveats Lodged

New Sale Resale Sub Sale

7

Exhibit 6: Successful Tender Prices for IGLS Sites Targeted at Single-User Developments

Note: # Number in bracket refers to the number of bids. 14. Besides IGLS, JTC also allocated 39.6 ha of prepared industrial land (PIL) in 4Q 2019. About 68% of the land (27.1 ha) was allocated to manufacturing companies, while the remaining was allocated to companies in the manufacturing-related and supporting industries. In the same period, 29.4 ha of PIL was returned to JTC, with natural expiries accounting for about 73% of the total returns.

OUTLOOK ON FUTURE SUPPLY

15. In 2020, around 2.2 million sqm of industrial space is expected to be completed. About 40% of the supply is single-user factory space, typically developed by the industrialists for their own use. Multiple-user factory supply constitutes another 40% of the supply, of which about 50% of the space is intended for replacement space for lessees affected by JTC’s Industrial Redevelopment Programme (IRP) to rejuvenate older industrial estates to support future economic growth. The remaining 20% is warehouse and business park space. 16. Between 2021 and 2023, around 2.7 million of industrial space is expected to be completed. In addition to the expected supply of 2.2 million sqm in 2020, this amounts to an average annual supply of about 1.2 million sqm in the next 4 years. As a comparison, the average annual supply and demand of industrial spaces were around 1.1 million sqm and 1.0 million sqm respectively in the past three years (Exhibit 7).

0

200

400

600

Oct2017

Nov2017

Feb2018

Mar2018

Jul2018

Nov2018

Dec2018

Jan2019

Mar2019

Aug2019

Successful Tender Price, $ psm ppr

(3)

(2)

(1)(4) (1)

4Q 2017 4Q 2018 1Q 2018 3Q 2018 1Q 2019 3Q 2019

(3) (1) (1)

(1) (1)

Tender Closing Month

: Tuas : Tampines : Sungei Kadut : Woodlands

8

Exhibit 7: Upcoming Supply of Industrial Space

Note: For industrial space, the figures for upcoming supply are in terms of gross floor area, whereas historical changes in available stock (measured by taking the annual net change of available stock) are in terms of net floor area. 17. At the end of 4Q 2019, there were around 170 units, totalling about 120,000 sqm, in uncompleted strata-titled developments still available for sale. About one in two units were between 200 and 299 sqm in size (Exhibit 8). Exhibit 8: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments

0

500

1,000

1,500

2,000

2,500

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 >2022

New Supply (Historical and Upcoming)('000 sqm)

Historical Upcoming

22

82

70

0

50

100

< 200 sqm 200 – 299 sqm ≥ 300 sqm

No. of Units By Floor Area

9

18. Eight JTC developments, totalling around 870,000 sqm, are expected to be completed in the next 12 months (Exhibit 9).

Exhibit 9: JTC’s Projects Expected to Complete in the Next 12 Months as at End of 4Q 2019

Project Gross Floor Area

(sqm) Expected Completion

Date

JTC Bedok Food City 105,370 1st Qtr 2020

CleanTech Three 61,640 2nd Qtr 2020

JTC Logistic Hub @ Gul 134,320 2nd Qtr 2020

Multiple-user factory development 37,100 2nd Qtr 2020

Multiple-user factory development 45,810 2nd Qtr 2020

TimMac @ Kranji 143,270 3rd Qtr 2020

JTC aeroSpace Three 15,520 4th Qtr 2020

JTC Defu Industrial City 326,840 4th Qtr 2020

CONCLUSION 19. Prices and rentals of industrial space remained stable in tandem with occupancy rates. JTC will continue to monitor the market closely to ensure a stable and sustainable supply of land and space to support the needs of industrialists.

Annex A – Industrial Property Market Statistics

10

Annex A-1: Price Statistics

Table 1: Quarterly Price Index of Industrial Space (4Q 2018 – 4Q 2019)

Market Segment 4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019

% ChangeOver

Previous Quarter

All Industrial 90.0 89.9 89.8 89.9 89.7 -0.2

Multiple-User Factory

93.8 93.6 93.4 93.4 93.2 -0.2

Planning Region

Central Region 97.1 97.8 97.4 97.9 97.2 -0.7

North Region 82.2 81.4 81.8 81.4 82.4 1.2

West Region 84.2 83.3 83.0 83.3 82.9 -0.5

Other Regions 87.3 86.5 86.1 85.0 84.5 -0.6

Land-Use Zoning

Business 1 93.9 93.9 94.0 94.4 94.0 -0.4

Business 2 80.7 80.3 79.3 78.5 78.6 0.1

Remaining Tenure

< 30 Years 87.5 88.8 87.1 85.8 85.5 -0.3

31 – 60 Years 83.0 82.3 83.2 83.3 82.9 -0.5

> 60 Years 100.3 100.4 98.6 99.3 99.4 0.1

Single-User Factory 79.6 79.6 79.7 79.9 79.8 -0.1

Note:

1. The price index is computed using fixed weights based on 2015 transaction values before 1st Quarter 2019. From 1st Quarter 2019, the

weights used are fixed using 2018 transaction values.

11

Table 2: Quarterly Price Index of Industrial Space (1Q 2017 – 4Q 2019)

Period Price Index

All Industrial Multiple-User Factory Single-User Factory

1Q 2017 93.3 96.9 82.8

2Q 2017 91.8 95.4 81.7

3Q 2017 91.0 94.6 80.8

4Q 2017 90.0 94.0 79.3

1Q 2018 89.9 93.8 79.3

2Q 2018 89.9 93.8 79.3

3Q 2018 90.0 93.9 79.4

4Q 2018 90.0 93.8 79.6

1Q 2019 89.9 93.6 79.6

2Q 2019 89.8 93.4 79.7

3Q 2019 89.9 93.4 79.9

4Q 2019 89.7 93.2 79.8

Note:



12

Table 3: Quarterly Price Index of Multiple-User Factory by Planning Region (1Q 2017 – 4Q 2019)

Period Price Index of Multiple-User Factory

Central Region North Region West Region Other Regions

1Q 2017 97.2 88.2 87.4 88.0

2Q 2017 95.8 86.2 86.5 86.5

3Q 2017 94.6 85.9 85.6 85.9

4Q 2017 95.2 85.2 83.9 86.2

1Q 2018 95.3 84.5 83.9 86.2

2Q 2018 98.0 83.6 82.5 86.3

3Q 2018 98.1 83.0 83.4 86.3

4Q 2018 97.1 82.2 84.2 87.3

1Q 2019 97.8 81.4 83.3 86.5

2Q 2019 97.4 81.8 83.0 86.1

3Q 2019 97.9 81.4 83.3 85.0

4Q 2019 97.2 82.4 82.9 84.5

Note:



13

Table 4: Quarterly Price Index of Multiple-User Factory by Remaining Tenure and Land-Use Zoning (1Q 2017 – 4Q 2019)

Period

Price Index of Multiple-User Factory

Remaining Tenure Land-Use Zoning

≤ 30 Years 31 – 60 Years

> 60 Years Business 1 Business 2

1Q 2017 90.6 90.6 94.0 95.2 85.1

2Q 2017 88.9 89.2 92.9 93.7 83.7

3Q 2017 88.1 88.3 92.6 93.4 82.6

4Q 2017 86.1 87.9 94.7 94.0 81.0

1Q 2018 86.2 86.7 96.0 94.2 80.4

2Q 2018 85.5 85.7 99.2 95.6 79.0

3Q 2018 85.9 85.4 99.4 95.3 79.6

4Q 2018 87.5 83.0 100.3 93.9 80.7

1Q 2019 88.8 82.3 100.4 93.9 80.3

2Q 2019 87.1 83.2 98.6 94.0 79.3

3Q 2019 85.8 83.3 99.3 94.4 78.5

4Q 2019 85.5 82.9 99.4 94.0 78.6

Note:



14

Annex A-2: Rental Statistics Table 5: Quarterly Rental Index of Industrial Space (4Q 2018 – 4Q 2019)

Market Segment 4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019

% ChangeOver

Previous Quarter

All Industrial 90.9 90.9 91.0 91.0 91.0 0.0


89.0 88.9 89.0 89.0 88.9 -0.1

Planning Region

Central Region 90.6 90.4 90.3 90.3 90.3 0.0

North Region 93.7 93.9 94.4 93.8 94.0 0.2

West Region 77.5 77.4 77.5 77.7 77.3 -0.5

East Region 90.4 90.5 90.4 91.0 91.0 0.0

Northeast Region 82.9 82.7 83.0 82.3 82.3 0.0

Land-Use Zoning

Business 1 90.1 89.9 89.9 89.9 89.8 -0.1

Business 2 81.8 82.1 82.3 82.2 82.2 0.0

Single-User Factory 96.4 95.8 96.3 96.8 96.9 0.1

Business Park 111.9 112.9 113.1 113.2 113.3 0.1

Warehouse 85.0 85.1 84.9 84.7 84.8 0.1

Note:

1. The rental index is compiled based on contracted gross rent per month as declared by tenants to IRAS through its e-Stamping system.

Contracted gross rent includes the base rent and all charges in connection with the lease (such as additional rent, service charge, payment

for hire of fittings or equipment, fees for advertising and promotion). It may or may not include any rent-free period and other incentives.

2. The rental index is computed using fixed weights based on 2015 transaction values before 1st Quarter 2019. From 1st Quarter 2019, the


15

Table 6: Quarterly Rental Index of Industrial Space (1Q 2017 – 4Q 2019)

Period

Rental Index

All Industrial Multiple-User

Factory Single-User

Factory Business

Park Warehouse

1Q 2017 93.0 90.7 99.9 104.3 90.5

2Q 2017 92.3 89.9 100.1 106.5 88.5

3Q 2017 91.3 89.2 99.1 106.8 86.7

4Q 2017 91.2 89.1 98.3 108.9 85.8

1Q 2018 91.1 89.1 97.5 111.5 85.5

2Q 2018 91.0 89.3 95.9 112.1 85.1

3Q 2018 90.9 89.1 95.8 112.0 85.1

4Q 2018 90.9 89.0 96.4 111.9 85.0

1Q 2019 90.9 88.9 95.8 112.9 85.1

2Q 2019 91.0 89.0 96.3 113.1 84.9

3Q 2019 91.0 89.0 96.8 113.2 84.7

4Q 2019 91.0 88.9 96.9 113.3 84.8

Note:






16

Table 7: Quarterly Rental Index of Multiple-User Factory by Planning Region and Land-Use Zoning (1Q 2017 – 4Q 2019)

Period

Rental Index of Multiple-User Factory

Planning Region Land-Use Zoning

Central Region

North Region

West Region

East Region

Northeast Region

Business 1

Business 2

1Q 2017 91.6 92.6 82.7 92.5 83.8 90.8 86.0

2Q 2017 90.9 92.2 82.0 90.6 83.1 90.2 84.6

3Q 2017 90.6 91.0 80.8 90.1 81.8 89.8 83.1

4Q 2017 91.8 89.2 79.1 90.6 81.7 90.4 81.5

1Q 2018 92.0 88.7 78.1 90.5 83.0 90.6 81.0

2Q 2018 91.5 91.9 77.7 89.7 83.5 90.6 81.5

3Q 2018 91.0 93.4 77.4 90.1 82.8 90.4 81.6

4Q 2018 90.6 93.7 77.5 90.4 82.9 90.1 81.8

1Q 2019 90.4 93.9 77.4 90.5 82.7 89.9 82.1

2Q 2019 90.3 94.4 77.5 90.4 83.0 89.9 82.3

3Q 2019 90.3 93.8 77.7 91.0 82.3 89.9 82.2

4Q 2019 90.3 94.0 77.3 91.0 82.3 89.8 82.2

Note:






17

Annex A-3: Stock and Vacancy Statistics Table 8: Stock and Vacancy Rate of Industrial Space (3Q 2019 – 4Q 2019)

Property Type Market Indicator As at

3Q 2019As at

4Q 2019

Over Previous Quarter

Absolute Change

% Change

All Industrial Space

Available (‘000 sq m) 49,631 49,633 2 0.0

Occupied (‘000 sq m) 44,324 44,288 -36 -0.1

Vacant (‘000 sq m) 5,306 5,346 40 0.8

Vacancy Rate (%) 10.7 10.8 0.1 -


Available (‘000 sq m) 11,363 11,310 -53 -0.5

Occupied (‘000 sq m) 9,894 9,898 4 0.0

Vacant (‘000 sq m) 1,469 1,413 -56 -3.8

Vacancy Rate (%) 12.9 12.5 -0.4 -

Single-User Factory

Available (‘000 sq m) 25,104 25,142 38 0.2

Occupied (‘000 sq m) 22,878 22,833 -45 -0.2

Vacant (‘000 sq m) 2,226 2,309 83 3.7

Vacancy Rate (%) 8.9 9.2 0.3 -

Business Park

Available (‘000 sq m) 2,200 2,199 -1 0.0

Occupied (‘000 sq m) 1,896 1,897 1 0.1

Vacant (‘000 sq m) 303 303 0 0.0

Vacancy Rate (%) 13.8 13.8 0.0 -

Warehouse Space

Available (‘000 sq m) 10,963 10,981 18 0.2

Occupied (‘000 sq m) 9,656 9,660 4 0.0

Vacant (‘000 sq m) 1,307 1,321 14 1.1

Vacancy Rate (%) 11.9 12.0 0.1 -

Note:

1. The figures may not add up due to rounding. 2. Vacancy rate is calculated by taking the ratio of the exact vacant and available floor area. It may not be the same as the ratio of the rounded

vacant and available floor area.

18

Table 9: Stock and Vacancy Rate of All Industrial Space (1Q 2017 – 4Q 2019)

Period Stock (‘000 sq m)

Vacancy Rate (%) Available Occupied Vacant

1Q 2017 46,691 41,719 4,972 10.6

2Q 2017 47,331 41,983 5,348 11.3

3Q 2017 47,691 42,237 5,455 11.4

4Q 2017 48,223 42,886 5,337 11.1

1Q 2018 48,188 42,871 5,316 11.0

2Q 2018 48,525 43,033 5,492 11.3

3Q 2018 48,670 43,389 5,281 10.9

4Q 2018 48,768 43,562 5,206 10.7

1Q 2019 49,096 43,858 5,238 10.7

2Q 2019 49,278 44,030 5,248 10.7

3Q 2019 49,631 44,324 5,306 10.7

4Q 2019 49,633 44,288 5,346 10.8

Note:



19

Table 10: Stock and Vacancy Rate of Multiple-User Factory Space (1Q 2017 – 4Q 2019)



1Q 2017 10,700 9,305 1,395 13.0

2Q 2017 10,821 9,353 1,468 13.6

3Q 2017 10,912 9,450 1,462 13.4

4Q 2017 11,080 9,588 1,492 13.5

1Q 2018 11,182 9,675 1,507 13.5

2Q 2018 11,314 9,729 1,585 14.0

3Q 2018 11,340 9,695 1,645 14.5

4Q 2018 11,326 9,802 1,525 13.5

1Q 2019 11,410 9,845 1,566 13.7

2Q 2019 11,365 9,912 1,454 12.8

3Q 2019 11,363 9,894 1,469 12.9

4Q 2019 11,310 9,898 1,413 12.5

Note:

1. The figures may not add up due to rounding.

2. Vacancy rate is calculated by taking the ratio of the exact vacant and available floor area. It may not be the same as the ratio of the rounded


20

Table 11: Stock and Vacancy Rate of Single-User Factory Space (1Q 2017 – 4Q 2019)



1Q 2017 24,224 21,958 2,266 9.4

2Q 2017 24,308 21,928 2,380 9.8

3Q 2017 24,410 21,998 2,412 9.9

4Q 2017 24,569 22,151 2,418 9.8

1Q 2018 24,419 22,082 2,336 9.6

2Q 2018 24,451 22,081 2,370 9.7

3Q 2018 24,487 22,282 2,204 9.0

4Q 2018 24,576 22,344 2,232 9.1

1Q 2019 24,706 22,520 2,186 8.8

2Q 2019 24,864 22,600 2,264 9.1

3Q 2019 25,104 22,878 2,226 8.9

4Q 2019 25,142 22,833 2,309 9.2

Note:




21

Table 12: Stock and Vacancy Rate of Business Park Space (1Q 2017 – 4Q 2019)



1Q 2017 2,140 1,798 342 16.0

2Q 2017 2,142 1,836 306 14.3

3Q 2017 2,142 1,840 302 14.1

4Q 2017 2,142 1,854 288 13.4

1Q 2018 2,140 1,822 318 14.9

2Q 2018 2,149 1,827 322 15.0

3Q 2018 2,149 1,848 301 14.0

4Q 2018 2,185 1,854 331 15.1

1Q 2019 2,201 1,883 317 14.4

2Q 2019 2,200 1,892 308 14.0

3Q 2019 2,200 1,896 303 13.8

4Q 2019 2,199 1,897 303 13.8

Note:



22

Table 13: Stock and Vacancy Rate of Warehouse Space (1Q 2017 – 4Q 2019)



1Q 2017 9,629 8,660 969 10.1

2Q 2017 10,061 8,867 1,194 11.9

3Q 2017 10,227 8,949 1,278 12.5

4Q 2017 10,433 9,294 1,139 10.9

1Q 2018 10,447 9,292 1,155 11.1

2Q 2018 10,611 9,396 1,215 11.5

3Q 2018 10,694 9,563 1,131 10.6

4Q 2018 10,680 9,562 1,118 10.5

1Q 2019 10,778 9,609 1,169 10.8

2Q 2019 10,849 9,627 1,222 11.3

3Q 2019 10,963 9,656 1,307 11.9

4Q 2019 10,981 9,660 1,321 12.0

Note:




23

Table 14: Available Stock and Occupancy Rate of Newly Completed Private Multiple-User Factory Space (1Q 2017 – 4Q 2019)

Period

Year of Completion

2016 2017 2018 2019 2016 2017 2018 2019

Available Stock (‘000 sq m) Occupancy Rate (%)

1Q 2017 386 103 - - 36.6 0.5 - -

2Q 2017 419 190 - - 42.3 2.8 - -

3Q 2017 419 203 - - 49.8 25.6 - -

4Q 2017 419 252 - - 66.5 34.6 - -

1Q 2018 419 252 111 - 70.1 48.0 7.3 -

2Q 2018 419 252 248 - 70.7 58.1 15.0 -

3Q 2018 419 252 294 - 74.3 67.0 22.0 -

4Q 2018 419 252 294 - 79.5 69.8 32.3 -

1Q 2019 419 252 294 15 80.5 69.4 55.8 13.2

2Q 2019 419 252 293 57 80.7 73.1 63.1 8.3

3Q 2019 419 252 293 61 80.7 76.3 67.0 11.0

4Q 2019 419 252 293 61 81.8 78.1 70.8 11.0

Note:

1. The available space refers to the total amount of nett floor area, which may change across quarters as developments may complete in

phases, or due to the reclassification or re-partitioning of space by industrialists.

Table 15: Available Stock of Industrial Space by Type of Industrial Space and Land-Use Zoning as at End of 4Q 2019

‘000 sq m nett

Industrial Space Total Floor Area Land-Use Zoning

Business 1 Business 2

All Industrial Space 49,633 11,232 36,202

Multiple-User Factory 11,310 6,429 4,881

Single-User Factory 25,142 2,936 22,206

Business Park 2,199 - -

Warehouse Space 10,981 1,867 9,115

Note:


24

Annex A-4: Potential Supply Statistics Table 16: Supply of Industrial Space by Property Type, Development Status and Expected Year of Completion as at End of 4Q 2019

‘000 sq m gross

All Industrial Space Total 2020 2021 2022 2023 2024 >2024

Total 4,893 2,205 755 1,500 433 - -

Under Construction 3,810 2,017 380 1,074 339 - -

Planned 1,083 188 375 426 94 - -

Written Permission 587 157 196 215 19 - -

Provisional Permission 333 24 173 135 - - -

Others 163 7 6 75 75 - -

Multiple-User Factory 1,803 859 223 691 30 - -

Under Construction 1,485 801 174 510 - - -

Planned 318 58 49 181 30 - -

Written Permission 76 58 0 17 - - -

Provisional Permission 160 - 48 111 - - -

Others 82 - - 52 30 - -

Single-User Factory 1,893 848 430 551 64 - -

Under Construction 1,207 742 159 305 - - -

Planned 686 106 271 245 64 - -

Written Permission 483 76 190 198 19 - -

Provisional Permission 122 24 74 24 - - -

Others 81 7 6 23 45 - -

Business Park 452 161 68 - 222 - -

Under Construction 425 161 41 - 222 - -

Planned 27 0 26 - - - -

Written Permission 0 0 - - - - -

Provisional Permission 26 - 26 - - - -

Others - - - - - - -

Warehouse 746 336 35 258 117 - -

Under Construction 693 313 6 258 117 - -

Planned 52 23 29 - - - -

Written Permission 28 23 5 - - - -

Provisional Permission 24 0 24 - - - -

Others - - - - - - -

Note:


25

Table 17: Supply of Industrial Space by Property Type, Usage and Expected Year of Completion as at End of 4Q 2019

‘000 sq m gross

All Industrial Space Total 2020 2021 2022 2023 2024 >2024

Total 4,893 2,205 755 1,500 433 - -

Business 1 320 141 117 62 - - -

Business 2 4,121 1,902 570 1,438 211 - -

Business Park 452 161 68 - 222 - -

Multiple-User Factory 1,803 859 223 691 30 - -

Business 1 178 104 50 24 - - -

Business 2 1,625 756 172 667 30 - -

Single-User Factory 1,893 848 430 551 64 - -

Business 1 129 28 64 37 - - -

Business 2 1,763 820 366 513 64 - -

Business Park 452 161 68 - 222 - -

Warehouse Space 746 336 35 258 117 - -

Business 1 12 9 3 - - - -

Business 2 733 327 32 258 117 - -

Note:


26

Annex A-5: Statistics on Industrial Units Available for Sale Table 18: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments by Floor Area as at End of 4Q 2019

Floor Area (sq m) Total Units Available for

Sale % Sold

Total 324 174 46

< 200 106 22 79

200 – 299 122 82 33

> 300 96 70 27 Note: 1. Industrial units available for sale in uncompleted strata-titled developments by region, expected year of completion and land-use zoning

were removed from the publication to safeguard data confidentiality.

27

Annex A-6: List of Major Industrial Projects Completed in 4Q 2019

Description and Location of Project Name of Developer Project Gross

Floor Area (sq m)

Gross Floor Area Granted

TOP in the Quarter (sq m)

SINGLE-USER FACTORY PROJECT

Private Sector

Additions/alterations to PSC Building at 348 Jalan Boon Lay

Hanwell Holdings Limited 21,110 10

(21,110)

Additions/alterations to single-user industrial development at 10, 12 Tampines Industrial Avenue 5

Siltronic Silicon Wafer Pte Ltd 13,040 7,570

(9,470)

Additions/alterations to single-user industrial development at 80 Tuas South Boulevard

Jurong Shipyard Pte Ltd 42,520 3,100

(42,520)

Lim Wen Heng Industrial Building at 12 Tampines Industrial Drive

Lim Wen Heng Construction Pte Ltd

6,550 3,360

(6,550)

Single-user factory at 9 Defu South Street 1

Teambuild (ICPH) Pte Ltd 32,660 10,800

(32,660)

Single-user factory at 2A Kian Teck Avenue

MH Industries Pte Ltd 5,690 420

(5,690)

Single-user factory at 218 Pandan Loop X Properties Inc Pte Ltd 22,460 21,350

(21,350)

Single-user industrial development at 15 Tuas View Circuit

Veolia ES Singapore Industrial Pte Ltd

13,340 12,210

(13,340)

Sub-Total 157,370 58,820

Total 157,370 58,820

WAREHOUSE PROJECT

Private Sector

Additions/alterations to MDI@One Howard at 1 Howard Road

Malaysia Dairy Industries Pte Ltd 7,720 7,720

Additions/alterations to single-user industrial development at 12 Seletar Aerospace Link

Airbus Singapore Pte Ltd 16,090 15,570

(15,570)

Lim Wen Heng Industrial Building at 12 Tampines Industrial Drive

Lim Wen Heng Construction Pte Ltd

6,550 3,200

(6,550)

Single-user industrial development at 15 Tuas View Circuit

Veolia ES Singapore Industrial Pte Ltd

13,340 1,130

(13,340)

Sub-Total 43,700 27,620

Total 43,700 27,620

Note:

1. Includes (i) all new erection, and (ii) extension and additions/alterations projects if the Gross Floor Area (GFA) of the full or partial

completion is 7,000 sqm and above.

2. From 2018Q4 onwards, it will also include partial completion of extension and additions/alterations projects if the project’s overall pipeline

GFA is 7,000 sqm and above.

3. Completed projects will not be published in the listing if overall pipeline GFA of the extension and additions/ alterations projects fall below

7,000 sqm.

28

Annex A-7: List of Major Industrial Projects in the Pipeline as at End of 4Q 2019

Description and Location of Project Name of Developer Gross Floor

Area (sq m)

Expected Year of

Final TOP

MULTIPLE-USER FACTORY PROJECT

Public Sector

Bulim Square at Bulim Lane 1/2 JTC Corporation 159,400 2022

JTC aeroSpace Three at Seletar Aerospace Link/Crescent

JTC Corporation 15,520 2020

JTC Bedok Food City at Bedok North Avenue 4 JTC Corporation 105,370 2020

JTC Defu Industrial City at Defu South Street 1 JTC Corporation 326,840 2020

JTC Space @ AMK at Ang Mo Kio Street 64/65 JTC Corporation 116,940 2022

Kranji Green at Kranji Loop JTC Corporation 133,040 2021

Multiple-user factory at North Coast Avenue JTC Corporation 37,100 2020

Multiple-user factory at North Coast Avenue JTC Corporation 45,810 2020

TimMac @ Kranji at Kranji Loop/Kranji Road JTC Corporation 143,270 2020

Sub-Total 1,083,290

MULITPLE-USER FACTORY PROJECT

Private Sector

Additions/alterations to existing factory at Ang Mo Kio Avenue 5

7000 AMK LLP 24,960 2021

Additions/alterations to existing factory at Macpherson Road

Wujie Times Square Pte Ltd 9,140 na

CT Foodchain at Pandan Loop CT @ Pandan Pte Ltd 17,250 na

D'Innova at Lorong 23 Geylang Kai Lim Builders Merchant Pte Ltd

2,690 na

Extension and additions/alterations to existing factory at Jurong East Street 21

Singapore Technologies Electronics Limited

20,820 2020

Food Concept @ 239 Pandan Loop at Pandan Loop

JVA Pandan Pte Ltd 7,030 2020

Ispring at New Industrial Road SB (29NIR) Investment Pte Ltd 9,710 2020

Liner at Tuas Bay Close SB (Northview) Investment Pte Ltd

46,200 2022

Mactaggart Foodlink at Mactaggart Road Smooth Venture Pte Ltd 5,300 na

Multiple-user factory at Alexandra Road BottomSlim New York Pte. Ltd. 3,430 na

Multiple-user factory at Braddell Road BP-Braddell LLP 24,240 na

Multiple-user factory at Jalan Lam Huat JC Development Pte Ltd 13,320 na

29


Area (sq m)

Expected Year of

Final TOP

MULITPLE-USER FACTORY PROJECT

Private Sector

Multiple-user factory at Kallang Way Mapletree Industrial Trust 80,420 na

Multiple-user factory at Kim Chuan Drive Goodland Citrine Pte Ltd 3,540 na

Multiple-user factory at Lorong 21 Geylang Wellprime Pte Ltd 2,090 na

Multiple-user factory at Loyang Drive AirTrunk Singapore Holding Pte Ltd

37,370 na

Multiple-user factory at Macpherson Road Ascendas REIT 15,560 na

Multiple-user factory at New Industrial Road SLB-Oxley (NIR) Pte Ltd 14,480 na

Multiple-user factory at Senang Crescent Kah Land Pte Ltd 5,720 na

Multiple-user factory at Tagore Lane NHL Holding Pte Ltd 2,120 na

Multiple-user factory at Tuas South Avenue 2 RBC Investor Services Trust Singapore Ltd

31,020 na

Multiple-user factory at Ubi Road 4 Ascendas REIT 17,100 2021

Multiple-user industrial development at Genting Lane

Metal House Investment Pte Ltd 5,590 na

Multiple-user industrial development at Tuas Avenue 2

AIMS AMP Capital Industrial REIT

18,710 na

REVV at Corporation Drive SB (Yung Ho) Investment Pte. Ltd.

32,000 na

Solaris @Tai Seng at Tai Seng Avenue SB (Ipark) Investment Pte. Ltd. 105,250 2022

Tuas South Connection at Tuas South Link 1 Yee Lee Development Pte Ltd 47,160 2020

West Spring at Tuas Bay Drive SB (Pioneer) Investment Pte Ltd 26,000 na

Sub-Total 628,220

Total 1,711,510


Private Sector

Additions/alterations to existing factory at Jurong Island Highway

ExxonMobil Asia Pacific Pte Ltd 19,230 na

Additions/alterations to existing factory at Jurong Island Highway

Linde Gas Singapore Pte Ltd 12,390 na

Additions/alterations to existing factory at Loyang Way

Technics Steel Pte Ltd 8,660 na

Additions/alterations to existing factory at North Coast Drive

Micron Semiconductor Asia Operations Pte Ltd

20 2020

Additions/alterations to existing factory at North Coast Drive

Micron Semiconductor Asia Operations Pte Ltd

38,990 na

30


Area (sq m)

Expected Year of

Final TOP


Private Sector

Additions/alterations to existing factory at Pioneer Road

Antara Koh Pte Ltd 11,300 2020

Additions/alterations to existing factory at Pioneer Sector 3

Greif Singapore Pte. Ltd. 7,820 2020

Additions/alterations to existing factory at Senoko Road

SC Auto Industries (S) Pte Ltd 100 na

Additions/alterations to existing factory at Seraya Place

Coim Asia Pacific Pte Ltd 13,290 na

Additions/alterations to existing factory at Tampines Industrial Avenue 5

Siltronic Silicon Wafer Pte Ltd 2,260 na

Additions/alterations to existing factory at Tuas Avenue 2

Becton Dickinson Medical (S) Pte Ltd

8,360 na

Additions/alterations to existing factory at Tuas Bay Drive

Pacific Refreshments Pte Ltd 8,430 na

Additions/alterations to existing factory at Tuas South Lane

Neste Singapore Pte Ltd 34,720 na

Additions/alterations to existing industrial development at Pioneer Road

ExxonMobil Asia Pacific Pte Ltd 11,670 na

Additions/alterations to existing industrial development at Tuas South Boulevard

Jurong Shipyard Pte Ltd 27,150 na

Excel Centre at Seletar Aerospace Avenue Excel Venture Capital Pte Ltd 10,320 na

Extension to existing factory at Ang Mo Kio Street 64

United Engineers Limited 60,180 na

Koufu Group HQ at Woodlands Height Koufu Pte Ltd 20,390 na

Single-user factory at Aljunied Road Asia Headquarters Pte Ltd 1,400 na

Single-user factory at Benoi Road JP Nelson Equipment Pte Ltd 14,040 na

Single-user factory at Chang Charn Road EuroSports Auto Pte Ltd 4,530 na

Single-user factory at Chin Bee Crescent Sincere Food Investment Pte Ltd 2,870 na

Single-user factory at Chin Bee Road Lim Traders Pte. Ltd. 5,990 na

Single-user factory at Defu Lane 10 STT Defu 3 Pte Ltd 9,840 na

Single-user factory at Genting Lane Spireworks 1 Pte Ltd 1,510 na

Single-user factory at Gul Circle Continental Steel Pte Ltd 14,830 na

Single-user factory at Gul Crescent Sin Ghee Huat Corporation Ltd 7,270 2020

Single-user factory at Gul Drive H T Glass Pte Ltd 4,810 na

Single-user factory at Jalan Lam Huat BS Kranji Pte Ltd 12,460 2020

31


Area (sq m)

Expected Year of

Final TOP


Private Sector

Single-user factory at Jalan Lembah Kallang Knowledge Computers Pte Ltd 1,620 na

Single-user factory at Jalan Papan Liang Yun Hung Services 1,570 na

Single-user factory at Joo Koon Circle Hong Hup Machinery & Construction Pte. Ltd

4,950 na

Single-user factory at Joo Koon Circle Supratechnic Pte Ltd 10,260 2021

Single-user factory at Kim Chuan Drive Equatorial Marine Fuel Management Services Pte Ltd

3,320 na

Single-user factory at Kranji Road Lian Hup Brothers Pte Ltd 11,910 2021

Single-user factory at Kranji Way Lian Beng Construction (1998) Pte Ltd

17,370 na

Single-user factory at Kranji Way Samwoh Corporation Pte Ltd 32,150 na

Single-user factory at Kung Chong Road/Chang Charn Road

Stuttgart Auto Pte Ltd 8,800 2020

Single-user factory at Lok Yang Way Google Asia Pacific Pte Ltd 120,070 na

Single-user factory at Loyang Close STT Loyang Pte Ltd 27,230 na

Single-user factory at Loyang Drive Amazon Asia-Pacific Resource Pte Ltd

24,060 na

Single-user factory at Loyang Drive Digital Singapore 2 Pte Ltd 32,040 na

Single-user factory at Loyang Drive Sapphire-JLE Pte Ltd 5,760 na

Single-user factory at Pandan Loop Ha Li Fa Pte Ltd 3,660 na

Single-user factory at Pandan Loop X Properties Inc Pte Ltd 1,100 2020

Single-user factory at Pioneer Sector Lane OKH Holdings Pte Ltd 12,780 2021

Single-user factory at Quality Road Neo Garden Catering Pte Ltd 28,370 na

Single-user factory at Seletar Aerospace Heights

BP-BBD2 Pte Ltd 20,690 na

Single-user factory at Seletar North Link HL-Sunway JV Pte Ltd 62,480 2021

Single-user factory at Senang Crescent Ping Tan Construction Pte Ltd 650 na

Single-user factory at Senang Crescent Yung Tat Lee Engineering Pte Ltd

650 2021

Single-user factory at Senang Crescent Export House Lightings (1978) Pte Ltd

650 na

Single-user factory at Senoko Crescent Aston Food & Beverage Specialities Pte Ltd

5,150 na

32


Area (sq m)

Expected Year of

Final TOP


Private Sector

Single-user factory at Shipyard Crescent Kim Hock Corporation Pte Ltd 6,200 na

Single-user factory at Sungei Kadut Street 2 Redwood Interior Pte Ltd 15,000 2020

Single-user factory at Sunview Drive Equinix Singapore Pte Ltd 31,780 na

Single-user factory at Sunview Way Malkoha Pte Ltd 171,340 na

Single-user factory at Tagore Lane Quek & Quek Civil Engineering Pte Ltd

960 na

Single-user factory at Tampines Industrial Crescent

AAC Optics Solutions Pte Ltd 18,900 na

Single-user factory at Tanjong Penjuru Kim Ee Logistics Pte Ltd 6,530 na

Single-user factory at Tannery Lane Jincai Holdings Pte Ltd 1,810 na

Single-user factory at Tuas Avenue 12 Opto-Pharm Pte Ltd 6,970 na

Single-user factory at Tuas Avenue 18A Progressive Builders Pte Ltd 2,800 na

Single-user factory at Tuas Basin Lane Banyan Marine (S) Pte Ltd 650 na

Single-user factory at Tuas Basin Link Avance Living Pte Ltd 6,270 na

Single-user factory at Tuas South Avenue 2 Chem-Solv Technologies Pte Ltd 6,510 na

Single-user factory at Tuas South Avenue 2 JE Synergy Pte Ltd 13,410 na

Single-user factory at Tuas South Avenue 3 Hydrochem (S) Pte Ltd 48,630 na

Single-user factory at Tuas South Link 2 Hiap Shing Construction Pte. Ltd.

3,840 2021

Single-user factory at Tuas South Link 2 Wellbuilt Pte Ltd 4,160 2020

Single-user factory at Tuas South Link 3 Bonco Enterprise Pte Ltd 4,820 na

Single-user factory at Tuas South Link 3 L.S. Construction Pte Ltd 4,260 na

Single-user factory at Tuas South Link 3 LNT Coating Pte Ltd 3,120 2020

Single-user factory at Tuas South Link 3 Wee Hur Construction Pte Ltd 7,970 2020

Single-user factory at Tuas South Link 4 G.T.H. Engineering & Construction Pte Ltd

6,570 2020

Single-user factory at Tuas South Link 4 Air Liquide Singapore Pte Ltd 8,470 na

Single-user factory at Tuas South Street 9 Asiagroup Leasing Pte Ltd 6,040 na

33


Area (sq m)

Expected Year of

Final TOP


Private Sector

Single-user factory at Tuas South Street 9 Asiaone Logistics & Warehousing Pte. Ltd.

6,030 na

Single-user factory at Tuas South Street 15 Shanaya Environmental Services Pte Ltd

5,370 na

Single-user factory at Tuas South Street 15 Wah & Hua Pte Ltd 10,610 na

Single-user factory at Wan Lee Road Lian Hap Xing Kee Edible Oil Trading Pte Ltd

1,650 na

Single-user factory at Woodlands Height ASM Front-End Manufacturing Singapore Pte. Ltd.

37,370 na

Single-user factory at Woodlands Terrace Boon Tong Kee Pte Ltd 5,480 na

Single-user industrial development at Bulim Drive

Shimano Singapore Pte Ltd 32,110 2020

Single-user industrial development at Chin Bee Avenue

OJJ Foods Pte Ltd 14,250 2020

Single-user industrial development at Kung Chong Road

Regal Haus Pte Ltd 2,200 na

Single-user industrial development at Seletar Aerospace Avenue

PPG Industries (Singapore) Pte Ltd

1,800 na

Single-user industrial development at Senoko Drive/Senoko Road

Tee Yih Jia Food Manufacturing Pte Ltd

79,830 2020

Single-user industrial development at Tanjong Penjuru Crescent

2TPC Pte Ltd 23,510 na

Single-user industrial development at Tuas Avenue 5

Hup Hin Property (S) Pte Ltd 32,470 na

Tiong Lian Building at Pandan Loop Tiong Lian Food Pte Ltd 8,430 na

Sub-Total 1,460,240

Total 1,460,240

BUSINESS PARK PROJECT

Public Sector

Additions/alterations to existing business park development at Cleantech Loop

JTC Corporation 12,780 2020

Business park development at Punggol Way JTC Corporation 222,410 2023

CleanTech Three at Cleantech Loop JTC Corporation 61,640 2020

Sub-Total 296,830

34


Area (sq m)

Expected Year of

Final TOP

BUSINESS PARK PROJECT

Private Sector

Additions/alterations to existing business park development at International Business Park

Pension Real Estate Singapore Pte Ltd

17,730 na

Business park development at Biopolis Road Wilmar International Limited 16,580 na

Business park development at Cleantech Heights

PBA Innovation Centre Pte Ltd 26,490 na

Business park development at Cleantech Loop Surbana Jurong Capital (JID) Pte Ltd

41,350 2021

Business park development at One-north Avenue

Ascendas REIT 36,240 na

Business park development at One-north Crescent

Snakepit-BP LLP 16,320 na

Sub-Total 154,710

Total 451,540

WAREHOUSE PROJECT

Public Sector

JTC Logistics Hub @ Gul at Gul Circle JTC Corporation 134,320 2020

Sub-Total 134,320

WAREHOUSE PROJECT

Private Sector

Additions/alterations to existing factory at Seletar Aerospace Link

Airbus Singapore Pte Ltd 510 na

Additions/alterations to existing factory at Tampines Industrial Avenue 5

Siltronic Silicon Wafer Pte Ltd 1,320 na

Additions/alterations to existing industrial development at Mandai Link

C M M Marketing Management Pte Ltd

10,210 2020

Additions/alterations to existing industrial development at Tuas South Avenue 14

LOGOS SE Asia Pte Ltd 99,750 2022

Cogent Jurong Island Logistics Hub at Tembusu Crescent

S H Cogent Logistics Pte Ltd 86,010 2020

Kay Lim @ Tagore at Tagore Industrial Avenue Kay Lim Construction & Trading Pte Ltd

4,170 na

Multiple-user industrial development at Genting Lane

Metal House Investment Pte Ltd 260 na

Multiple-user industrial development at Tuas Avenue 2

AIMS AMP Capital Industrial REIT

6,190 na

Single-user industrial development at Bulim Drive

Shimano Singapore Pte Ltd 10,430 2020

Single-user industrial development at Chin Bee Avenue

OJJ Foods Pte Ltd 3,830 2020

Single-user industrial development at Kung Chong Road

Regal Haus Pte Ltd 1,850 na

Single-user industrial development at Seletar Aerospace Avenue

PPG Industries (Singapore) Pte Ltd

1,760 na

35


Area (sq m)

Expected Year of

Final TOP

WAREHOUSE PROJECT

Private Sector

Single-user industrial development at Senoko Drive/Senoko Road

Tee Yih Jia Food Manufacturing Pte Ltd

20,170 2020

Single-user industrial development at Tanjong Penjuru Crescent

2TPC Pte Ltd 22,060 na

Single-user industrial development at Tuas Avenue 5

Hup Hin Property (S) Pte Ltd 17,690 na

Tiong Lian Building at Pandan Loop Tiong Lian Food Pte Ltd 4,280 na

Warehouse development at Jalan Lembah Kallang

G'zox Detailing Singapore Pte. Ltd.

1,690 na

Warehouse development at Pandan Crescent Pandan Crescent Pte Ltd 120,200 na

Warehouse development at Sungei Kadut Street 2

Star Furniture Pte Ltd 19,050 na

Warehouse development at Sunview Road Allied Sunview Pte Ltd 116,810 na

Warehouse development at Tagore Industrial Avenue

Ang Mo Supermarket Pte Ltd 2,550 na

Warehouse development at Tampines Industrial Drive

Blu World Pte Ltd 6,580 2020

Warehouse development at Tuas Avenue 11 Neo Hardware Pte Ltd 7,780 2020

Warehouse development at Tuas South Link 3 Hexacon Construction Pte Ltd 4,070 na

Sub-Total 569,220

Total 703,540

Note:

1. The pipeline projects include (i) all new erections and (ii) extension and additions/ alterations projects with Gross Floor Area (GFA) of

7,000 sqm and above. Projects that obtain partial completion would continue to be included until they are fully completed.

2. Projects would be removed from the pipeline listing when (i) the GFA of extension and additions/ alterations projects fall below 7,000 sqm

or (ii) projects are withdrawn/ aborted.

3. Major mixed-use development projects with industrial use are also included.

4. The expected year of final TOP is shown as “NA” for some projects as the developer has not consented to the release of the information.

Annex B: Statistics on JTC’s Prepared Industrial Land and Ready-Built Facilities

36

Table 1: Gross Allocation and Returns by Product Segment (4Q 2018 – 4Q 2019)

Gross Allocation1 Returns1

4Q 2018

1Q 2019

2Q 2019

3Q 2019

4Q 2019

4Q 2018

1Q 2019

2Q 2019

3Q 2019

4Q 2019

Prepared Industrial Land (ha)

Total2 134.8 84.2 91.2 73.8 39.6 157.2 54.6 69.1 75.8 29.4

Generic Land 122.4 72.7 31.6 48.2 14.6 138.0 44.6 53.1 35.5 21.8

Tuas Biomedical Park - - 8.8 - - 0.7 - - - -

Jurong Island 4.6 7.8 47.8 22.6 24.8 12.2 6.4 12.6 39.9 7.6

Wafer Fab Park 0.9 1.0 2.2 0.1 - 3.2 1.2 3.4 0.3 -

Business Park 3.5 2.7 0.8 2.8 0.2 - 2.3 - - -

Logistics Park - - - - - - - - - -

Seletar Aerospace Park

3.3 - - 0.1 0.0 3.1 0.1 - - 0.0

Ready-Built Facilities (‘000 sqm)

Total 41.1 38.6 64.8 37.7 51.5 33.6 47.0 50.2 40.9 53.4

High-Rise Space3 25.3 20.0 48.6 22.8 27.4 19.6 34.6 32.0 31.2 26.0

Business Park Space 2.4 1.6 1.0 0.5 1.2 1.1 2.0 0.5 1.1 0.7

Land-Based Factory4 8.9 11.5 10.9 7.9 19.0 10.0 5.7 10.2 2.0 17.6

Workshop Space 4.5 5.5 4.2 6.5 4.0 3.0 4.7 7.5 6.6 9.1

Note:

1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB.

2. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme.

3. Renamed as High-Rise Space (from Flatted Factory) to cover the various types of high-rise space JTC has.

4. Renamed as Land-based Factory (from Standard Factory) to cover the various types of land-based facilities that JTC has.

37

Table 2: Gross Allocation by Allocation Mode (4Q 2018 – 4Q 2019)

Gross Allocation1

4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019


Total2 134.8 84.2 91.2 73.8 39.6

Direct Allocation3 129.3 65.6 89.2 68.2 35.8

Tender/ Launches4 5.4 18.6 2.1 5.6 3.8


Total 41.1 38.6 64.8 37.7 51.5

Direct Allocation3 19.1 16.4 41.5 14.9 31.4

Tender/ Launches4 22.0 22.2 23.2 22.8 20.1

Note:



3. Refers to land/ space allocated directly by JTC.

4. Refers to land/ space allocated through public tenders or launches.

Table 3: Gross Allocation by Allocation Type (4Q 2018 – 4Q 2019)

Gross Allocation1

4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019


Total2 134.8 84.2 91.2 73.8 39.6

Lease 20.6 20.2 2.7 44.3 3.3

Tenancy - 1.0 - 1.0 2.6

Licence 114.1 63.0 88.5 28.4 33.7

Note:



38

Table 4: Gross Allocation and Returns of Prepared Industrial Land by Industry (4Q 2018 – 4Q 2019)

Gross Allocation1 (ha) Returns1 (ha)

4Q 2018

1Q 2019

2Q 2019

3Q 2019

4Q 2019

4Q 2018

1Q 2019

2Q 2019

3Q 2019

4Q 2019

Total2 134.8 84.2 91.2 73.8 39.6 157.2 54.6 69.1 75.8 29.4

Manufacturing 6.5 58.8 57.3 52.0 27.1 18.8 29.8 41.5 55.2 12.7

Electronics 0.8 0.8 - - - - 0.8 1.5 - -

Precision Engineering 3.1 7.0 0.4 0.1 1.3 1.5 3.1 5.6 0.6 0.5

Chemicals 2.6 34.3 30.4 51.9 20.1 3.6 21.2 31.9 31.6 5.2

Biomedical Manufacturing

- - 8.8 - - - - - - -

Transport Engineering - 1.0 17.6 - - 2.4 2.6 - 22.5 0.2

General Manufacturing Industries

- 15.7 - - 5.7 11.3 2.0 2.4 0.5 6.7

Mfg Related & Supporting 128.3 25.3 33.9 21.8 12.5 138.5 24.8 27.6 20.6 16.7

Information & Communication

0.9 1.5 1.5 - 1.0 0.9 - 1.5 - -

Professional, Scientific & Technical Activities

1.3 2.2 11.1 0.1 2.4 2.8 2.6 2.3 8.1 -

Transportation & Storage

4.4 10.9 2.4 4.0 - 6.7 11.4 4.6 4.4 1.7

Water Supply, Sewerage & Waste Management

- - - - - 0.0 0.3 0.0 - -

Construction 101.5 6.3 10.4 15.1 7.4 112.0 5.5 12.1 3.7 10.9

Real Estate/ Financial Activities/ Holding Companies

15.8 3.9 1.2 - - 8.0 2.9 3.3 1.0 -

Other Services 4.4 0.6 7.3 2.6 1.8 8.1 2.1 3.8 3.4 4.2

Note:



39

Table 5: Gross Allocation and Returns of Ready-Built Facilities by Industry (4Q 2018 – 4Q 2019)

Gross Allocation1 (‘000 sqm) Returns1 (‘000 sqm)

4Q 2018

1Q 2019

2Q 2019

3Q 2019

4Q 2019

4Q 2018

1Q 2019

2Q 2019

3Q 2019

4Q 2019

Total 41.1 38.6 64.8 37.7 51.5 33.6 47.0 50.2 40.9 53.4

Manufacturing 13.6 13.3 39.6 8.1 12.7 8.5 21.3 17.0 10.5 19.1

Electronics - - - 0.1 0.2 0.1 1.6 0.1 0.2 0.1

Precision Engineering 6.2 2.8 2.8 1.1 4.7 1.3 5.9 5.9 2.3 6.3

Chemicals 2.9 1.4 0.3 - - 0.4 - 2.8 0.6 0.2

Biomedical Manufacturing

1.5 0.8 0.3 0.3 - 0.7 11.4 1.1 1.5 0.2

Transport Engineering 0.1 5.3 12.4 2.9 0.7 3.3 0.2 0.3 1.8 4.4

General Manufacturing Industries

3.0 3.1 23.9 3.7 7.1 2.8 2.2 6.8 4.1 7.9

Mfg Related & Supporting 27.5 25.2 25.2 29.6 38.8 25.1 25.7 33.1 30.4 34.4

Information & Communication

2.7 1.4 2.3 1.3 1.1 2.8 1.2 1.6 1.4 0.8

Professional, Scientific & Technical Activities

3.3 1.6 2.1 3.7 3.9 4.3 2.0 4.9 2.9 3.6

Transportation & Storage

0.7 0.9 3.1 0.4 6.5 0.8 1.3 0.9 0.5 0.4

Water Supply, Sewerage & Waste Management

- 0.4 - 0.2 1.3 - 2.5 - - -

Construction 5.7 8.2 6.0 6.3 5.6 2.5 5.4 9.9 6.5 5.4

Real Estate/ Financial Activities/ Holding Companies

1.9 - 0.5 0.1 0.3 0.8 - 0.3 0.7 0.6

Other Services 13.2 12.8 11.2 17.6 20.0 14.0 13.3 15.5 18.4 23.6

Note:


40

Table 6: Total Allocated and Supply by Product Segment (Prepared Industrial Land) (4Q 2018 – 4Q 2019)

Total Allocated1 as at

4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019


Total2 7,123.1 7,159.8 7,195.7 7,182.1 7,195.7

Generic Land 3,816.7 3,847.7 3,827.4 3,842.7 3,838.4

Tuas Biomedical Park 148.1 148.1 157.0 157.0 157.0

Jurong Island 1,735.1 1,736.6 1,771.0 1,753.7 1,772.8

Wafer Fab Park 154.5 154.3 153.0 152.8 152.8

Business Park 80.7 81.1 82.0 84.4 84.6

Logistics Park 150.1 150.1 150.1 150.1 150.1

Seletar Aerospace Park 49.0 48.9 48.9 49.0 49.0

Land for JTC Ready-Built Facilities (RBF)

988.8 993.0 1,006.4 992.4 991.1

Supply1

4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019


Total2 8,184.2 8,236.5 8,223.0 8,211.0 8,220.0

Generic Land 4,237.9 4,260.9 4,258.3 4,240.4 4,250.6

Tuas Biomedical Park 212.9 212.9 212.9 212.9 212.9

Jurong Island 1,957.2 1,974.1 1,974.1 1,973.0 1,973.0

Wafer Fab Park 274.2 274.2 274.2 274.2 274.3

Business Park 122.5 127.3 129.6 129.8 127.4

Logistics Park 157.3 157.3 157.3 157.3 157.3

Seletar Aerospace Park 66.0 66.0 66.0 66.0 66.0

Land for JTC Ready-Built Facilities (RBF)

1,156.2 1,163.8 1,150.5 1,157.2 1,158.5

Note:


2. Includes Prepared Industrial Land that are tendered out as part of the IGLS programme. Data on Prepared Industrial Land from IGLS is

based on date of allocation instead of date of tender award. Date of allocation is normally a few months after date of tender award.

41

Table 7: Total Allocated and Supply by Product Segment (Ready-Built Facilities) (4Q 2018 – 4Q 2019)

Total Allocated1 as at

4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019


Total 5,101.7 5,103.9 5,118.0 5,115.2 5,113.4

High-Rise Space2 1,479.7 1,475.8 1,491.9 1,483.9 1,485.4

Business Park Space 270.6 270.2 270.7 270.1 270.6

Land-Based Factory3 2,855.9 2,861.7 2,862.5 2,868.4 2,869.7

Workshop Space 495.4 496.2 492.8 492.8 487.7

Supply1

4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019


Total 6,134.1 6,216.7 6,267.0 6,298.4 6,302.1

High-Rise Space2 1,797.2 1,873.5 1,873.5 1,873.5 1,873.2


Land-Based Factory3 3,486.0 3,492.1 3,542.2 3,573.3 3,577.1

Workshop Space 537.2 537.2 537.4 537.8 538.0

Table 8: Occupancy Rate of Ready-Built Facilities1 (4Q 2018 – 4Q 2019)

4Q 2018 1Q 2019 2Q 2019 3Q 2019 4Q 2019

Ready-Built Facilities (%)

Overall 83.2 82.1 81.7 81.2 81.1

High-Rise Space2 82.3 78.8 79.6 79.2 79.3


Land-Based Factory3 81.9 81.9 80.8 80.3 80.2

Workshop Space 92.2 92.4 91.7 91.6 90.6

Notes:


2. Renamed as High-Rise Space (from Flatted Factory) to cover the various types of high-rise space JTC has.

3. Renamed as Land-based Factory (from Standard Factory) to cover the various types of land-based facilities that JTC has.

quarterly market report industrial properties · market report for the industrial property market...

Documents