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EMBARGOED TILL 26 APRIL 2018, 1 PM
QUARTERLY MARKET REPORT
INDUSTRIAL PROPERTIES
FIRST QUARTER 2018
EMBARGOED TILL 26 APRIL 2018, 1 PM
CONTENTS
Page
Market Report for the Industrial Property Market (1Q 2018) 1 Executive Summary 1 2 Market Trends in 1Q 2018 2 3 Allocation of JTC’s Ready-Built Facilities (RBF) 6 4 Allocation of Industrial Land 6 5 Outlook on Future Supply 8 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 22 A5 Statistics on Industrial Units Available for Sale 24 A6 List of Major Industrial Projects Completed in 1Q 2018 25 A7 List of Major Industrial Projects in the Pipeline as at End of 1Q 2018 26 B Statistics on JTC’s Prepared Industrial Land and Ready-Built Facilities 30
To be completed by 2018 Beyond 2018
~2.6 million sqm
Uncompleted strata units for sale
~1,100 units
Singapore Industrial PropertiesQuarterly Market Report
1st Quarter 2018
Change over previous quarter
Change over previous year
Future industrial space supply
Prices and rentals of industrial space remained relatively stable.
Occupancy rate of industrial space
Price index of allindustrial space
Rental index of allindustrial space
Totalindustrial space
0.1%
~1.4 million sqm ~3.1 million sqm ~570 units
2.0%million sqm
0.1% points
0.4% points 3.6%
0.1%million sqm
0.04
1.5
EMBARGOED TILL 26 APRIL 2018, 1 PM
1
MARKET REPORT FOR THE INDUSTRIAL PROPERTY MARKET (1Q 2018)
EXECUTIVE SUMMARY
1. In 1Q 2018, the occupancy rate of overall industrial property market rose marginally by 0.1percentage points compared to the previous quarter. Compared to a year ago, occupancy rate of overall industrial property market fell by 0.4 percentage points.
2. Prices and rentals of industrial space remained relatively stable for most market segments.In 1Q 2018, the price and rental indices for the overall industrial property market fell marginally by 0.1% compared to the previous quarter. Compared to a year ago, the price and rental indices fell by 3.6% and 2.0% respectively. 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 1Q 2018
4Q 2017 1Q 2018
% Change
Over Previous Quarter
Over Previous
Year
Price
All Industrial 90.0 89.9 -0.1 -3.6
Multiple-User Factory 94.0 93.8 -0.2 -3.2
Single-User Factory 79.3 79.3 0.0 -4.2
Rental
All Industrial 91.2 91.1 -0.1 -2.0
Multiple-User Factory 89.1 89.1 0.0 -1.8
Single-User Factory 98.3 97.5 -0.8 -2.4
Business Park 108.9 111.5 2.4 6.9
Warehouse 85.8 85.5 -0.3 -5.5
Occupancy Rate1
All Industrial 88.9% 89.0% 0.1 -0.4
Multiple-User Factory 86.5% 86.5% 0.0 -0.5
Single-User Factory 90.2% 90.4% 0.2 -0.2
Business Park 86.6% 85.1% -1.5 1.1
Warehouse 89.1% 88.9% -0.2 -1.0 Note: 1 The % change refers to absolute change over previous year/quarter.
3. In 2018, another 1.4 million sqm of industrial space, including 236,000 sqm of multiple-userfactory space, is estimated to come on-stream. As a comparison, the average annual supply and demand of industrial space in the past 3 years were around 1.7 million and 1.2 million sqm respectively. As new supply starts to taper in the coming years, prices and rentals should stabilise in tandem with occupancy rates.
4. For industrialists looking to own production spaces, around 570 units in uncompleted strata-titled developments remained available for sale at the end of 1Q 2018. These units totalled about 146,000 sqm of space, and will provide options for industrialists to site or relocate their operations in these developments.
EMBARGOED TILL 26 APRIL 2018, 1 PM
2
MARKET TRENDS IN 1Q 2018
5. In 1Q 2018, the occupancy rate for the overall industrial property market rose marginally by0.1 percentage points on a quarter-on-quarter basis to 89.0%. On a year-on-year basis, the occupancy rate dropped by 0.4 percentage points (Exhibit 2a).
Exhibit 2a: Occupancy Rate of Industrial Space
6. For multiple-user factory space, the occupancy rate remained flat at 86.5% when comparedto the previous quarter. On a year-on-year basis, the occupancy rate dropped by 0.5 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
2011
Q1
2011
Q3
2012
Q1
2012
Q3
2013
Q1
2013
Q3
2014
Q1
2014
Q3
2015
Q1
2015
Q3
2016
Q1
2016
Q3
2017
Q1
2017
Q3
2018
Q1
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
2011
Q1
2011
Q3
2012
Q1
2012
Q3
2013
Q1
2013
Q3
2014
Q1
2014
Q3
2015
Q1
2015
Q3
2016
Q1
2016
Q3
2017
Q1
2017
Q3
2018
Q1
Occupancy Rate (%)
Change in Stock
('000 sqm)
Change in Available Stock (LHS) Change in Occupied Stock (LHS) Occupancy Rate (RHS)
EMBARGOED TILL 26 APRIL 2018, 1 PM
3
7. Rentals of industrial space remain relatively stable. In 1Q 2018, the rental index of theoverall industrial space fell slightly by 0.1% on a quarter-on-quarter basis, while rental index of multiple-user factory space was unchanged. Compared to a year ago, the rental indices for overall industrial space and multiple-user factory space both fell by 2.0% and 1.8% in 1Q 2018 respectively (Exhibits 3a and 3b).
Exhibit 3a: Rental Indices of Industrial Space
Exhibit 3b: Rental Indices of Industrial Space
0
20
40
60
80
100
120
2008Q1 2009Q1 2010Q1 2011Q1 2012Q1 2013Q1 2014Q1 2015Q1 2016Q1 2017Q1 2018Q1All Industrial Space Multiple-User Factory Space
See Exhibit 3b
93.0 92.391.3 91.2 91.1
90.789.9 89.2 89.1 89.1
84
88
92
96
100
2017Q1 2017Q2 2017Q3 2017Q4 2018Q1
All Industrial SpaceMultiple-User Factory Space
Rental Index2012Q4=100
EMBARGOED TILL 26 APRIL 2018, 1 PM
4
8. The table below shows the rental indices for multiple-user factory space by planning regionand land-use zoning (Exhibit 3c):
Exhibit 3c: Rental Indices of Multiple-User Factory Space by Planning Region and Land-Use Zoning (4Q 2012=100)
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
% Change Over
Previous Quarter
Planning Region Central 91.6 90.9 90.6 91.8 92.0 0.2
North 92.6 92.2 91.0 89.2 88.7 -0.6
West 82.7 82.0 80.8 79.1 78.1 -1.3
East 92.5 90.6 90.1 90.6 90.5 -0.1
North-East 83.8 83.1 81.8 81.7 83.0 1.6
Land-Use Zoning
Business 1 90.8 90.2 89.8 90.4 90.6 0.2
Business 2 86.0 84.6 83.1 81.5 81.0 -0.6
9. Prices of industrial space also remained relatively stable. In 1Q 2018, the price indices foroverall industrial space and multiple-user factory space fell marginally by 0.1% and 0.2% respectively on a quarter-on-quarter basis. Compared to a year ago, they were lower by 3.6% and 3.2% respectively (Exhibits 4a and 4b).
Exhibit 4a: Price Indices of Industrial Space
0
20
40
60
80
100
120
2008Q1 2009Q1 2010Q1 2011Q1 2012Q1 2013Q1 2014Q1 2015Q1 2016Q1 2017Q1 2018Q1
All Industrial Space Multiple-User Factory Space
See Exhibit 4b
Price Index2012Q4=100
EMBARGOED TILL 26 APRIL 2018, 1 PM
5
Exhibit 4b: Price Indices of Industrial Space
10. 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)
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
% Change Over
Previous Quarter
Planning Region Central 97.2 95.8 94.6 95.2 95.3 0.1
North 88.2 86.2 85.9 85.2 84.5 -0.8
West 87.4 86.5 85.6 83.9 83.9 0.0
Others 88.0 86.5 85.9 86.2 86.2 0.0
Land-Use Zoning
Business 1 95.2 93.7 93.4 94.0 94.2 0.2
Business 2 85.1 83.7 82.6 81.0 80.4 -0.7
Remaining Tenure <30 years 90.6 88.9 88.1 86.1 86.2 0.1
31-60 years 90.6 89.2 88.3 87.9 86.7 -1.4
>60 years 94.0 92.9 92.6 94.7 96.0 1.4
93.3
91.891.0
90.0 89.9
96.9
95.494.6
94.0 93.8
88
92
96
100
2017Q1 2017Q2 2017Q3 2017Q4 2018Q1
All Industrial SpaceMultiple-User Factory Space
Price Index(2012Q4=100)
EMBARGOED TILL 26 APRIL 2018, 1 PM
6
11. Based on the number of caveats lodged for industrial properties, transaction volumeshowed signs of stabilising in 1Q 2018, rising by 1.2% compared to the last quarter and 15% compared to the last year. (Exhibit 5).
Exhibit 5: Transaction Volume of Industrial Properties
ALLOCATION OF JTC’S READY-BUILT FACILITIES (RBF)
12. In 1Q 2018, JTC allocated a total of 65,400 sqm of RBF space to industrialists, whichincluded 43,800 sqm of high-rise space and 17,900 sqm of land-based factory space. Among the high-rise space that were allocated, about 73% was in newer developments such as JTC Space @ Tuas and JTC Food Hub @ Senoko.
13. Total RBF returns in 1Q 2018 was 62,200 sqm, of which 23,500 sqm was high-rise spaceand 21,100 sqm was land-based factory space. About 53% was due to companies consolidating their operations.
ALLOCATION OF INDUSTRIAL LAND
14. In 1Q 2018, the tenders for four Industrial Government Land Sales (IGLS) sites targeted forsingle-user developments totalling 2.14 ha closed. One of the sites was at Tampines and the remaining three were at Tuas. All the sites received 1 bid each. However, the site at Tampines and one of the sites at Tuas were not awarded as their tender prices were too low.
15. Based on the tender results, tender prices for IGLS sites targeted at single-userdevelopments in Tuas showed signs of consolidating. Tender prices for the small IGLS sites in Tuas ranged between $318 and $339 psm ppr in 1Q 2018, which was at the lower end of the tender prices received for similar sites in Tuas in the past year, which ranged between $333 and $410 psm ppr (Exhibit 6).
0
100
200
300
400
500
2015Q1 2015Q2 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2016Q4 2017Q1 2017Q2 2017Q3 2017Q4 2018Q1
Number ofCaveats Lodged
New Sale Resale Sub Sale
EMBARGOED TILL 26 APRIL 2018, 1 PM
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Exhibit 6: Average Successful Tender Prices for Small IGLS Sites Targeted at Single-User Developments
Note: #Number in bracket refers to the number of bids. * Assessments of the awards of the tenders for IGLS sites at Plot 18 and Plot 23, Tuas South Link 3 are still in progress when this report is released on 26 Apr 2018. 16. Other than the four IGLS sites targeted at single-user developments, the tender for a site in the Reserve List targeted at multiple-user development at Tuas had also closed. 2 bids were received and the highest bid was at $646 psm ppr. 17. Besides IGLS, JTC also allocated 136.6 ha of prepared industrial land (PIL) in 1Q 2018. About 73% of the land (99.5 ha) was allocated to manufacturing companies, while the remaining was allocated to companies in the manufacturing-related and supporting industries. In the same period, 36.3 ha of PIL was returned to JTC, with natural expiries accounting for about half of the total returns.
0
200
400
600
800
Oct2016
Nov2016
Dec2016
Jan2017
Feb2017
Mar2017
Apr2017
May2017
Jun2017
Jul2017
Aug2017
Sep2017
Oct2017
Nov2017
Feb2018
Mar2018
Average Successful Tender Price, $ psm ppr
Tender Closing Month
: IGLS sites at Tuas : IGLS sites at Tampines : IGLS site at Sungei Kadut
1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 4Q 2016
(6)
(3) (3)
(5)
(4) (3) (5)
(3) (4) (1)
(5) (5) (3)
(3) (1) (1)* (1)*
EMBARGOED TILL 26 APRIL 2018, 1 PM
8
OUTLOOK ON FUTURE SUPPLY
18. In 2018, another 1.4 million sqm of industrial space is estimated to come on-stream. This is about 3% of current industrial stock. As a comparison, the average annual supply and demand of industrial space were around 1.7 million sqm and 1.2 million sqm respectively in the past 3 years (Exhibit 7). 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 (i.e. historical new supply) and historical changes in occupied stock (i.e. historical new demand) are in terms of net floor area. 19. For multiple-user factory space, another 236,000 sqm is estimated to come on-stream in 2018. This is about 2% of the current multiple-user factory stock. As a comparison, the annual supply and demand of multiple-user factory space for the past 3 years were around 403,000 sqm and 315,000 sqm respectively. 20. At the end of 1Q 2018, there were around 570 units, totalling about 146,000 sqm, in uncompleted strata-titled developments still available for sale. A majority of the available units are less than 200 sqm in size (Exhibit 8).
0
500
1,000
1,500
2,000
2,500
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 >2020
New Supply (Historical and Upcoming)('000 sqm)
Historical Upcoming
EMBARGOED TILL 26 APRIL 2018, 1 PM
9
Exhibit 8: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments
21. Two JTC developments, totalling around 108,000 sqm, are expected to be completed by the end of the year (Exhibit 9).
Exhibit 9: JTC’s Projects Expected to Complete in the Next 12 Months as at End of 1Q 2018
Project Gross Floor Area (sqm)
Expected Completion Date
trendspace (formerly JTC Furniture Hub @ Sungei Kadut)
68,250 4th Qtr 2018
Multiple-user industrial development 40,060 4th Qtr 2018
CONCLUSION 22. Prices and rentals of industrial space remained relatively stable. As new supply starts to taper in the coming years, prices and rentals should stabilise in tandem with occupancy rates. JTC will monitor the market closely to ensure a stable and sustainable supply of land and space to support the needs of industrialists. 23. Moving forward, JTC will continue to develop new industrial facilities and estates that will meet the needs of industrialists, support their transformation and upgrading, and enhance their productivity and competitiveness.
323
143
56 44
0
200
400
< 200 sqm 200 – 299 sqm300 – 499 sqm >= 500 sqm
No. of Units By Floor Area
EMBARGOED TILL 26 APRIL 2018, 1 PM
Annex A – Industrial Property Market Statistics
10
Annex A-1: Price Statistics Table 1: Quarterly Price Index of Industrial Space (1Q 2017 – 1Q 2018)
Market Segment 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 % Change
Over Previous Quarter
All Industrial 93.3 91.8 91.0 90.0 89.9 -0.1 Multiple-User Factory 96.9 95.4 94.6 94.0 93.8 -0.2
Planning Region
Central Region 97.2 95.8 94.6 95.2 95.3 0.1
North Region 88.2 86.2 85.9 85.2 84.5 -0.8
West Region 87.4 86.5 85.6 83.9 83.9 0.0
Other Regions 88.0 86.5 85.9 86.2 86.2 0.0
Land-Use Zoning
Business 1 95.2 93.7 93.4 94.0 94.2 0.2
Business 2 85.1 83.7 82.6 81.0 80.4 -0.7
Remaining Tenure
< 30 Years 90.6 88.9 88.1 86.1 86.2 0.1
31 – 60 Years 90.6 89.2 88.3 87.9 86.7 -1.4
> 60 Years 94.0 92.9 92.6 94.7 96.0 1.4
Single-User Factory 82.8 81.7 80.8 79.3 79.3 0.0 Note: 1. The price index is computed using fixed weights based on 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the
weights used are fixed using 2015 transaction values.
EMBARGOED TILL 26 APRIL 2018, 1 PM
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Table 2: Quarterly Price Index of Industrial Space (2Q 2015 – 1Q 2018)
Period Price Index
All Industrial1 Multiple-User Factory2 Single-User Factory3
2Q 2015 106.9 107.4 99.5
3Q 2015 106.6 107.0 99.4
4Q 2015 105.0 105.9 97.2
1Q 2016 102.4 103.5 94.4
2Q 2016 100.0 101.8 91.4
3Q 2016 98.3 100.8 88.9
4Q 2016 95.4 98.7 85.4
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 Note: 1. Before 4th Quarter 2014, the price index is computed based on transactions of multiple-user factories in the Central region and island-wide
multiple-user warehouses. From 4th Quarter 2014, the price index is computed based on island-wide transactions of multiple-user factories
and single-user factories. Before 4th Quarter 2014, the weights for the price index are updated every quarter using past 12 quarters
transaction values. From 4th Quarter 2014 and 1st Quarter 2016, the weights used are fixed using 2012 and 2015 transaction values
respectively.
2. Before 4th Quarter 2014, the price index is computed based on transactions of multiple-user factories in the Central region. From 4th Quarter
2014, the scope of the price index is expanded to include transactions outside Central region. Before 4th Quarter 2014, the price index is
computed with weights updated every quarter using past 12 quarters transaction values. From 4th Quarter 2014 and 1st Quarter 2016, the
weights used are fixed using 2012 and 2015 transaction values respectively.
3. The price index is computed using fixed weights based on 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the
weights used are fixed using 2015 transaction values.
EMBARGOED TILL 26 APRIL 2018, 1 PM
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Table 3: Quarterly Price Index of Multiple-User Factory by Planning Region (2Q 2015 – 1Q 2018)
Period Price Index of Multiple-User Factory
Central Region North Region West Region Other Regions
2Q 2015 107.2 98.5 96.1 100.0
3Q 2015 106.3 99.0 95.9 99.9
4Q 2015 106.5 97.7 92.9 97.7
1Q 2016 103.0 95.0 91.8 96.7
2Q 2016 102.8 92.4 91.0 92.8
3Q 2016 102.0 91.7 89.8 92.0
4Q 2016 98.5 90.3 88.7 89.7
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 Note:
1. The price index is computed using fixed weights based on 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the
weights used are fixed using 2015 transaction values.
EMBARGOED TILL 26 APRIL 2018, 1 PM
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Table 4: Quarterly Price Index of Multiple-User Factory by Remaining Tenure and Land-Use Zoning (2Q 2015 – 1Q 2018)
Period
Price Index of Multiple-User Factory
Remaining Tenure Land-Use Zoning
≤ 30 Years 31 – 60 Years > 60 Years Business 1 Business 2
2Q 2015 105.6 102.0 101.3 105.2 95.0
3Q 2015 101.7 101.5 102.3 104.4 95.8
4Q 2015 97.8 101.1 101.2 104.2 92.8
1Q 2016 95.8 98.9 98.5 101.9 90.7
2Q 2016 95.2 96.0 96.9 99.0 90.3
3Q 2016 93.1 96.0 96.7 97.3 90.2
4Q 2016 91.6 93.2 95.2 95.7 87.8
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 Note:
1. The price index is computed using fixed weights based on 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the
weights used are fixed using 2015 transaction values.
EMBARGOED TILL 26 APRIL 2018, 1 PM
14
Annex A-2: Rental Statistics Table 5: Quarterly Rental Index of Industrial Space (1Q 2017 – 1Q 2018)
Market Segment 1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 % Change
Over Previous Quarter
All Industrial 93.0 92.3 91.3 91.2 91.1 -0.1 Multiple-User Factory 90.7 89.9 89.2 89.1 89.1 0.0
Planning Region
Central Region 91.6 90.9 90.6 91.8 92.0 0.2
North Region 92.6 92.2 91.0 89.2 88.7 -0.6
West Region 82.7 82.0 80.8 79.1 78.1 -1.3
East Region 92.5 90.6 90.1 90.6 90.5 -0.1
Northeast Region 83.8 83.1 81.8 81.7 83.0 1.6
Land-Use Zoning
Business 1 90.8 90.2 89.8 90.4 90.6 0.2
Business 2 86.0 84.6 83.1 81.5 81.0 -0.6
Single-User Factory 99.9 100.1 99.1 98.3 97.5 -0.8
Business Park 104.3 106.5 106.8 108.9 111.5 2.4
Warehouse 90.5 88.5 86.7 85.8 85.5 -0.3 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 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the
weights used are fixed using 2015 transaction values.
EMBARGOED TILL 26 APRIL 2018, 1 PM
15
Table 6: Quarterly Rental Index of Industrial Space (2Q 2015 – 1Q 2018)
Period
Rental Index
All Industrial2
Multiple-User Factory3
Single-User Factory4
Business Park4 Warehouse3
2Q 2015 102.5 101.7 108.7 106.3 99.3
3Q 2015 101.7 100.6 109.3 104.9 98.7
4Q 2015 100.6 99.4 108.0 104.9 97.2
1Q 2016 97.9 95.7 105.9 103.9 96.4
2Q 2016 96.2 93.4 104.0 104.4 95.4
3Q 2016 94.3 92.2 101.8 104.2 91.2
4Q 2016 93.8 91.7 100.9 105.4 91.0
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 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. Before 4th Quarter 2014, the rental index is computed based on transactions of multiple-user factories and multiple-user warehouses in the
Central region. From 4th Quarter 2014, the rental index is computed based on island-wide transactions of multiple-user factories, single-
user factories, business parks and warehouses. Before 4th Quarter 2014, the weights for the rental index is updated every quarter using
past 12 quarters transaction values. From 4th Quarter 2014 and 1st Quarter 2016, the weights used are fixed using 2012 and 2015
transaction values respectively.
3. Before 4th Quarter 2014, the rental index is computed based on transactions in the Central region. From 4th Quarter 2014, the scope of the
rental index is expanded to include transactions outside Central region. Before 4th Quarter 2014, the rental index is computed with weights
updated every quarter using past 12 quarters transaction values. From 4th Quarter 2014 and 1st Quarter 2016, the weights used are fixed
using 2012 and 2015 transaction values respectively.
4. The rental index is computed using fixed weights based on 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the
weights used are fixed using 2015 transaction values.
EMBARGOED TILL 26 APRIL 2018, 1 PM
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Table 7: Quarterly Rental Index of Multiple-User Factory by Planning Region and Land-Use Zoning (2Q 2015 – 1Q 2018)
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
2Q 2015 101.5 98.4 96.9 101.2 102.3 101.4 97.2
3Q 2015 101.9 96.9 95.0 99.3 95.8 100.6 95.4
4Q 2015 100.8 96.5 93.8 99.0 93.0 99.3 94.7
1Q 2016 97.2 95.7 88.8 95.6 87.7 95.8 90.5
2Q 2016 94.0 94.9 86.2 94.1 87.3 93.1 89.3
3Q 2016 92.1 94.8 85.9 94.3 85.0 91.7 88.8
4Q 2016 92.0 94.3 84.2 92.8 85.0 91.4 87.6
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 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 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the
weights used are fixed using 2015 transaction values.
EMBARGOED TILL 26 APRIL 2018, 1 PM
17
Annex A-3: Stock and Vacancy Statistics Table 8: Stock and Vacancy Rate of Industrial Space (4Q 2017 – 1Q 2018)
Property Type Market Indicator As at 4Q 2017
As at 1Q 2018
Over Previous Quarter
Absolute Change
% Change
All Industrial Space
Available (‘000 sq m) 48,223 48,188 -35 -0.1
Occupied (‘000 sq m) 42,886 42,871 -15 0.0
Vacant (‘000 sq m) 5,337 5,316 -21 -0.4
Vacancy Rate (%) 11.1 11.0 -0.1 -
Factory Space
Available (‘000 sq m) 37,791 37,741 -50 -0.1
Occupied (‘000 sq m) 33,593 33,579 -14 0.0
Vacant (‘000 sq m) 4,198 4,161 -37 -0.9
Vacancy Rate (%) 11.1 11.0 -0.1 -
Multiple-User Factory
Available (‘000 sq m) 11,080 11,182 102 0.9 Occupied (‘000 sq m) 9,588 9,675 87 0.9 Vacant (‘000 sq m) 1,492 1,507 15 1.0 Vacancy Rate (%) 13.5 13.5 0.0 -
Single-User Factory
Available (‘000 sq m) 24,569 24,419 -150 -0.6
Occupied (‘000 sq m) 22,151 22,082 -69 -0.3
Vacant (‘000 sq m) 2,418 2,336 -82 -3.4
Vacancy Rate (%) 9.8 9.6 -0.2 -
Business Park
Available (‘000 sq m) 2,142 2,140 -2 -0.1
Occupied (‘000 sq m) 1,854 1,822 -32 -1.7
Vacant (‘000 sq m) 288 318 30 10.4
Vacancy Rate (%) 13.4 14.9 1.5 -
Warehouse Space
Available (‘000 sq m) 10,433 10,447 14 0.1
Occupied (‘000 sq m) 9,294 9,292 -2 0.0
Vacant (‘000 sq m) 1,139 1,155 16 1.4
Vacancy Rate (%) 10.9 11.1 0.2 - Note:
1. The figures may not add up due to rounding.
EMBARGOED TILL 26 APRIL 2018, 1 PM
18
Table 9: Stock and Vacancy Rate of All Industrial Space (2Q 2015 – 1Q 2018)
Period Stock (‘000 sq m)
Vacancy Rate (%) Available Occupied Vacant
2Q 2015 43,496 39,578 3,918 9.0
3Q 2015 43,952 39,912 4,040 9.2
4Q 2015 44,459 40,270 4,189 9.4
1Q 2016 44,877 40,425 4,452 9.9
2Q 2016 45,361 40,549 4,812 10.6
3Q 2016 45,834 40,818 5,016 10.9
4Q 2016 46,282 41,407 4,875 10.5
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 Table 10: Stock and Vacancy Rate of Multiple-User Factory Space (2Q 2015 – 1Q 2018)
Period Stock (‘000 sq m)
Vacancy Rate (%) Available Occupied Vacant
2Q 2015 10,115 8,836 1,279 12.6
3Q 2015 10,232 8,932 1,300 12.7
4Q 2015 10,337 9,015 1,322 12.8
1Q 2016 10,299 8,994 1,305 12.7
2Q 2016 10,398 9,040 1,358 13.1
3Q 2016 10,470 9,120 1,350 12.9
4Q 2016 10,572 9,225 1,347 12.7
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
EMBARGOED TILL 26 APRIL 2018, 1 PM
19
Table 11: Stock and Vacancy Rate of Single-User Factory Space (2Q 2015 – 1Q 2018)
Period Stock (‘000 sq m)
Vacancy Rate (%) Available Occupied Vacant
2Q 2015 23,004 21,352 1,652 7.2
3Q 2015 23,192 21,389 1,803 7.8
4Q 2015 23,319 21,522 1,797 7.7
1Q 2016 23,465 21,564 1,901 8.1
2Q 2016 23,505 21,478 2,027 8.6
3Q 2016 23,813 21,573 2,240 9.4
4Q 2016 24,100 21,912 2,188 9.1
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 Table 12: Stock and Vacancy Rate of Business Park Space (2Q 2015 – 1Q 2018)
Period Stock (‘000 sq m)
Vacancy Rate (%) Available Occupied Vacant
2Q 2015 1,801 1,536 265 14.7
3Q 2015 1,842 1,555 287 15.6
4Q 2015 1,917 1,612 305 15.9
1Q 2016 2,048 1,673 375 18.3
2Q 2016 2,138 1,732 406 19.0
3Q 2016 2,137 1,733 404 18.9
4Q 2016 2,140 1,777 363 17.0
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
EMBARGOED TILL 26 APRIL 2018, 1 PM
20
Table 13: Stock and Vacancy Rate of Warehouse Space (2Q 2015 – 1Q 2018)
Period Stock (‘000 sq m)
Vacancy Rate (%) Available Occupied Vacant
2Q 2015 8,576 7,854 722 8.4
3Q 2015 8,686 8,036 650 7.5
4Q 2015 8,886 8,121 765 8.6
1Q 2016 9,065 8,194 871 9.6
2Q 2016 9,320 8,299 1,021 11.0
3Q 2016 9,414 8,392 1,022 10.9
4Q 2016 9,470 8,493 977 10.3
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 Table 14: Available Stock and Occupancy Rate of Newly Completed Private Multiple-User Factory Space (2Q 2015 – 1Q 2018)
Period
Year of Completion
2015 2016 2017 2018 2015 2016 2017 2018
Available Stock (‘000 sq m) Occupancy Rate (%)
2Q 2015 197 - - - 10.1 - - -
3Q 2015 308 - - - 10.6 - - -
4Q 2015 402 - - - 19.3 - - -
1Q 2016 402 144 - - 32.1 0.4 - -
2Q 2016 410 249 - - 43.2 9.9 - -
3Q 2016 410 322 - - 54.6 12.9 - -
4Q 2016 410 386 - - 61.2 16.3 - -
1Q 2017 410 386 103 - 69.0 36.6 0.5 -
2Q 2017 410 419 190 - 73.8 42.3 2.8 -
3Q 2017 410 419 203 - 77.7 49.8 25.6 -
4Q 2017 410 419 252 - 80.8 66.5 34.6 -
1Q 2018 410 419 252 111 81.7 70.1 48.0 7.3 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.
EMBARGOED TILL 26 APRIL 2018, 1 PM
21
Table 15: Available Stock of Industrial Space by Type of Industrial Space and Land-Use Zoning as at End of 1Q 2018
‘000 sq m nett
Industrial Space Total Floor Area Land-Use Zoning
Business 1 Business 2 All Industrial Space 48,188 10,067 34,097
Factory Space 37,741 8,503 25,599
Multiple-User Factory 11,182 5,940 4,719
Single-User Factory 24,419 2,563 20,880
Business Park 2,140 - -
Warehouse Space 10,447 1,564 8,497 Note:
1. The figures may not add up as some projects are on land zoned as Reserve Site etc.
EMBARGOED TILL 26 APRIL 2018, 1 PM
22
Annex A-4: Potential Supply Statistics Table 16: Supply of Factory and Warehouse Space by Development Status and Expected Year of Completion as at End of 1Q 2018
‘000 sq m gross Factory Space Total 2018 2019 2020 2021 2022 >2022
Total 3,683 1,067 569 858 492 553 144
Under Construction 2,366 879 422 570 229 266 -
Planned 1,317 188 147 288 263 287 144
Written Permission 421 99 106 5 192 19 -
Provisional Permission 613 66 14 164 12 214 144
Others 283 24 27 118 59 55 -
Warehouse Space Total 2018 2019 2020 2021 2022 >2022
Total 852 366 278 119 38 51 -
Under Construction 715 358 254 15 37 51 -
Planned 137 8 23 105 1 - -
Written Permission 119 6 11 102 1 - -
Provisional Permission 15 - 12 3 - - -
Others 2 2 - - - - - Note:
1. The figures may not add up due to rounding.
EMBARGOED TILL 26 APRIL 2018, 1 PM
23
Table 17: Supply of Factory and Warehouse Space by Type of Industrial Space, Land-Use Zoning and Expected Year of Completion as at End of 1Q 2018
‘000 sq m gross Factory Space Total 2018 2019 2020 2021 2022 >2022 Total 3,683 1,067 569 858 492 553 144
Multiple-User Factory 1,460 236 258 602 179 185 -
Business 1 253 79 27 138 9 - -
Business 2 1,200 150 231 464 170 185 -
Single-User Factory 1,846 741 311 176 251 368 -
Business 1 141 68 13 - 60 - -
Business 2 1,632 652 246 176 190 368 -
Business Park 376 90 - 80 63 - 144
Warehouse Space Total 2018 2019 2020 2021 2022 >2022 Total 852 366 278 119 38 51 -
Business 1 22 16 6 - - - -
Business 2 777 298 271 119 38 51 - Note:
1. The figures may not add up as some projects are on land zoned as Reserve Site etc.
2. The figures may not add up due to rounding.
EMBARGOED TILL 26 APRIL 2018, 1 PM
24
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 1Q 2018
Floor Area (sq m) Total Units Available for Sale % Sold
Total 808 566 30 < 200 415 323 22
200 – 299 258 143 45
300 – 499 64 56 13
≥ 500 71 44 38 Note: 1. Industrial units available for sale in uncompleted strata-titled developments by expected year of completion and land-use zoning were
removed from the publication to safeguard data confidentiality.
EMBARGOED TILL 26 APRIL 2018, 1 PM
25
Annex A-6: List of Major Industrial Projects Completed in 1Q 2018
Description and Location of Project Name of Developer Project Gross
Floor Area (sq m)
Gross Floor Area Granted
TOP in the Quarter (sq m)
FACTORY PROJECT
Public Sector
Sub-Total - -
FACTORY PROJECT
Private Sector
Mega@Woodlands at 39 Woodlands Close Wee Hur Development Pte Ltd 98,060 97,860
(98,060)
Multiple-user factory at 30A Kallang Place DBS Trustee Limited 31,260 31,260
Single-user factory at 84 Boon Keng Road BP-CA3 LLP 11,150 11,150
Single-user factory at 21, 23 Defu South Street 1 Soilbuild Pte Ltd 32,660 14,170
(14,260)
Single-user industrial development at 39 Tuas West Drive
Peck Tiong Choon (Private) Limited 31,860 11,550
(31,860)
Single-user industrial development at 12 Tukang Innovation Drive
DORMA Production GmBH & Co. KG 20,600 16,840
(20,600)
Sub-Total 225,590 182,830
Total 225,590 182,830
WAREHOUSE PROJECT
Public Sector
Sub-Total - -
WAREHOUSE PROJECT
Private Sector
Single-user industrial development at 39 Tuas West Drive
Peck Tiong Choon (Private) Limited 31,860 20,310
(31,860)
Single-user industrial development at 12 Tukang Innovation Drive
DORMA Production GmBH & Co. KG 20,600 3,760
(20,600)
Warehouse development at 9 Pioneer View
Panalpina World Transport (S) Pte Ltd 29,990 29,990
Sub-Total 82,450 54,060
Total 82,450 54,060
Note:
1. This table includes only projects which obtained TOP for gross floor area of at least 10,000 sqm in the quarter. Major mixed use
development projects with industrial use will also be included.
2. Figures in parentheses refer to the total Gross Floor Area (GFA) granted TOP for the development to date.
EMBARGOED TILL 26 APRIL 2018, 1 PM
26
Annex A-7: List of Major Industrial Projects in the Pipeline as at End of 1Q 2018
Description and Location of Project Name of Developer Gross Floor
Area (sq m)
Expected Year of
Final TOP
FACTORY PROJECT
Public Sector
Bedok Food City at Bedok North Avenue 4 JTC Corporation 107,300 2019
Business park development at Cleantech Loop JTC Corporation 62,520 2021
Business park development at Punggol Way JTC Corporation 143,500 na
Defu Industrial City at Bartley Road East/Kim Chuan Road JTC Corporation 327,080 2020
Multiple-user factory at Ang Mo Kio Street 64/65 JTC Corporation 115,410 2021
Multiple-user factory at Bulim Drive JTC Corporation 159,260 2022
Multiple-user factory at Woodlands Avenue 4/9 JTC Corporation 36,590 2020
Multiple-user industrial development at Buroh Lane JTC Corporation 34,050 2018
TimMac @ Kranji at Kranji Loop JTC Corporation 137,040 2020
trendspace at Sungei Kadut Street 2 JTC Corporation 68,250 2018
Sub-Total 1,191,000
FACTORY PROJECT
Private Sector
Additions/alterations to existing business park development at International Business Park
Pension Real Estate Singapore Pte Ltd 17,020 na
Additions/alterations to existing factory at Banyan Avenue Evonik Methionine SEA Pte. Ltd. 34,310 na
Additions/alterations to existing factory at Leng Kee Road
Wearnes Automotive & Equipment Pte Ltd 10,120 2018
Additions/alterations to existing factory at North Coast Drive
Micron Semiconductor Asia Pte Ltd 265,530 na
Additions/alterations to existing factory at Pasir Ris Industrial Drive 1
Systems on Silicon Manufacturing Co. Pte Ltd 18,640 na
Additions/alterations to existing factory at Seraya Place Coim Asia Pacific Pte Ltd 13,810 na
Additions/alterations to existing factory at Tuas Avenue 5
Sumitomo Warehouse (Singapore) Pte Ltd 10,210 na
Additions/alterations to existing factory at Tuas Bay Drive Syscon Pte Ltd 48,600 2018
Additions/alterations to existing factory at Tuas South Boulevard
Sembcorp Marine Integrated Yard Pte Ltd 11,960 na
Alice @ Mediapolis at Media Circle BP-DoJo LLP 39,490 2018
EMBARGOED TILL 26 APRIL 2018, 1 PM
27
Description and Location of Project Name of Developer Gross Floor
Area (sq m)
Expected Year of
Final TOP
FACTORY PROJECT
Private Sector
Business park development at Changi Business Park Central 2 Kingsmen Creatives Ltd 13,130 na
Business park development at Pasir Panjang Road Singapore Science Park Ltd 11,610 2018
Business park development at Science Park Drive Ascendas-Singbridge Pte Ltd 25,650 na
Excel Centre at Seletar Aerospace Avenue Excel Venture Capital Pte Ltd 10,320 na
Extension and additions/alterations to existing factory at Benoi Road JP Nelson Equipment Pte Ltd 13,650 na
Extension and additions/alterations to existing factory at Jurong East Street 21 ST Electronics Limited 20,930 2019
Extension and additions/alterations to existing factory at Jurong West Street 23 Google Asia Pacific Pte Ltd 21,410 na
Extension to existing factory at Ang Mo Kio Street 64 United Engineers Limited 60,180 na
Extension to existing factory at Tuas South Boulevard Jurong Shipyard Pte Ltd 41,750 na
Multiple-user factory at Kallang Way SB (Waterview) Investment Pte Ltd 54,490 na
Multiple-user factory at Tuas Bay Drive SB (Pioneer) Investment Pte Ltd 26,000 na
Nordcom Two at Gambas Avenue Grow-Tech Properties Pte Ltd 68,690 na
Platinum@Pioneer at Tuas Avenue 11 Soon Hock Realty Pte Ltd 12,490 na
Shine@Tuas South at Tuas South Link 1 Beacon Properties Pte. Ltd. 51,200 na
Sinar Mas Building at Pioneer Road Radha Exports Pte Ltd 3,230 na
Single-user factory at Airport Road Soilbuild Pte Ltd 18,400 2018
Single-user factory at Airport Road Teambuild (ICPH) Pte Ltd 32,360 na
Single-user factory at Chin Bee Crescent S M C Nutrition Pte Ltd 15,900 na
Single-user factory at Kallang Way SB (Waterfront) Investment Pte Ltd 36,310 na
Single-user factory at Pioneer Sector Lane OKH Holdings Pte Ltd 12,780 2018
Single-user factory at Senoko Way D.A. Foods Industries Pte Ltd 12,000 2018
Single-user factory at Sungei Kadut Street 2 Redwood Interior Pte Ltd 15,000 na
Single-user factory at Sunview Drive DBS Trustee Limited as Trustee of Mapletree Industrial Trust 21,910 2018
Single-user factory at Tampines North Drive 3 BHCC Construction Pte Ltd 14,510 na
EMBARGOED TILL 26 APRIL 2018, 1 PM
28
Description and Location of Project Name of Developer Gross Floor
Area (sq m)
Expected Year of
Final TOP
FACTORY PROJECT
Private Sector
Single-user factory at Tuas Avenue 18 Goldbell Engineering Pte Ltd 13,630 na
Single-user factory at Tuas Avenue 4 AWAN Data Centre Pte. Ltd. 32,610 2018
Single-user factory at Tuas Bay Drive AEL Enviro (Asia) Pte. Ltd. 14,480 2018
Single-user factory at Tuas Drive 2 AVA Global Pte Ltd 14,250 2018
Single-user factory at Tuas South Avenue 3 Hydrochem (S) Pte Ltd 48,630 na
Single-user factory at Tuas View Circuit Veolia ES Singapore Industrial Pte Ltd 11,830 na
Single-user factory at Tuas West Drive Tuas West Drive Pte Ltd 28,840 2019
Single-user factory at Woodlands Height Global Switch Property (S) Pte Ltd 24,560 2018
Single-user industrial development at Bulim Avenue
Angel Playing Card Singapore Pte Ltd 7,810 na
Single-user industrial development at Chin Bee Avenue OJJ Foods Pte Ltd 14,320 2020
STT Defu 2 at Defu Avenue 1 ST Telemedia Global Data Centres 14,390 na
TSL 101 at Eunos Avenue 3 Index-Cool Furniture Design & Construction Pte Ltd 12,450 2018
T-Space at Tampines North Drive 1 Goldprime Land Pte. Ltd. 68,470 na
Woodlands Connection at Woodlands Sector 2 Yee Lee Development Pte Ltd 13,300 2018
Sub-Total 1,403,160
Total 2,594,160
WAREHOUSE PROJECT
Public Sector
JTC Logistics Hub @ Gul at Gul Circle JTC Corporation 144,080 2019
Multiple-user industrial development at Buroh Lane JTC Corporation 6,010 2018
Sub-Total 150,090
WAREHOUSE PROJECT
Private Sector
Additions/alterations to existing industrial development at Mandai Link
CMM Marketing Management Pte Ltd 10,220 2019
Additions/alterations to existing warehouse at Tuas Avenue 13
Boustead Projects Investments Pte Ltd 20,340 na
EMBARGOED TILL 26 APRIL 2018, 1 PM
29
Description and Location of Project Name of Developer Gross Floor
Area (sq m)
Expected Year of
Final TOP
WAREHOUSE PROJECT
Private Sector
Extension to existing warehouse at Seraya Place Bertschi Singapore Pte Ltd 10,640 2018
PLG Building at Tuas South Avenue 16 Pacific Investment Group Pte Ltd 55,000 na
Poh Tiong Choon Logistics Hub at Pandan Road
Poh Tiong Choon Logistics Limited 50,930 2018
Sinar Mas Building at Pioneer Road Radha Exports Pte Ltd 27,940 na
Single-user industrial development at Bulim Avenue
Angel Playing Card Singapore Pte Ltd 16,250 na
Single-user industrial development at Chin Bee Avenue OJJ Foods Pte Ltd 2,860 2020
Warehouse development at Alps Avenue Schenker Singapore (Pte) Ltd 51,430 na
Warehouse development at Jalan Besut Hock Seng Heng Transport and Trading Pte Ltd 11,160 na
Warehouse development at Pasir Panjang Road
Singapore Storage & Warehouse Pte Ltd 11,530 na
Warehouse development at Sungei Kadut Lane Lorenzo International Limited 14,290 na
Warehouse development at Sunview Way Bollore Logistics Singapore Pte Ltd 50,000 na
Warehouse development at Tembusu Crescent S H Cogent Logistics Pte Ltd 87,500 2020
Warehouse development at Tuas Avenue 1 HSBC Institutional Trust Services (Singapore) Limited 44,540 2018
Warehouse development at Tuas South Avenue 14 Diamond Land Pte. Ltd. 65,350 2018
Warehouse development at Tuas South Boulevard
Sembcorp Marine Integrated Yard Pte Ltd 52,540 na
Sub-Total 582,520
Total 732,610
Note:
1. The pipeline projects indicated in this table includes only projects with gross floor area of 10,000 sq m and above, and have obtained
planning approvals for development. Major mixed use development projects with industrial use will also be included.
2. 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.
3. Bedok Food City, Defu Industrial City and multiple-user factory at Ang Mo Kio Street 64/65 by Housing & Development Board were
transferred to JTC Corporation on 1 January 2018.
EMBARGOED TILL 26 APRIL 2018, 1 PM
Annex B: Statistics on JTC’s Prepared Industrial Land and Ready-Built Facilities
30
Table 1: Gross Allocation and Returns by Product Segment (1Q 2017 – 1Q 2018)
Gross Allocation1 Returns1
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
Prepared Industrial Land (ha)
Total2 28.1 43.9 23.5 35.8 136.6 63.3 39.9 59.2 51.4 36.3
Generic Land 13.3 33.1 19.5 19.2 71.9 43.0 32.2 55.4 21.6 30.0
Tuas Biomedical Park 1.0 - - - - - - - - -
Jurong Island 13.7 1.1 2.8 6.5 15.6 20.3 6.9 3.4 19.9 6.3
Wafer Fab Park - 9.1 0.1 4.4 46.1 - 0.5 0.3 9.8 -
Business Park 0.1 0.7 1.1 0.1 2.6 - 0.3 0.1 0.1 0.0
Logistics Park - - - 2.6 - - - - - - Seletar Aerospace Park - - - 3.1 0.4 - - - - -
Ready-Built Facilities (‘000 sqm)
Total 25.8 20.8 33.9 44.1 65.4 25.2 28.4 23.3 27.9 62.2 High-Rise Space3 11.7 7.2 22.4 13.7 43.8 5.5 3.0 5.9 7.5 23.5
Business Park Space 1.3 3.2 5.7 0.7 1.7 3.6 - 9.5 0.3 10.1
Land-Based Factory4 12.0 10.2 4.5 28.5 17.9 13.9 23.8 5.3 17.7 21.1
Workshop Space 0.7 0.2 1.3 1.2 1.9 2.2 1.5 2.6 2.4 7.4 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.
EMBARGOED TILL 26 APRIL 2018, 1 PM
31
Table 2: Gross Allocation by Allocation Mode (1Q 2017 – 1Q 2018)
Gross Allocation1
1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018
Prepared Industrial Land (ha) Total2 28.1 43.9 23.5 35.8 136.6
Direct Allocation3 19.8 39.7 13.5 32.8 134.4
Tender/ Launches4 8.3 4.2 9.9 3.0 2.2
Ready-Built Facilities (‘000 sqm)
Total 25.8 20.8 33.9 44.1 65.4
Direct Allocation3 15.9 14.5 31.2 35.6 54.7
Tender/ Launches4 9.9 6.3 2.7 8.4 10.7 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. 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 (1Q 2017 – 1Q 2018)
Gross Allocation1
1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018 Prepared Industrial Land (ha) Total2 28.1 43.9 23.5 35.8 136.6
Lease 14.5 1.7 2.9 8.9 73.5
Tenancy 0.8 5.0 0.8 4.8 1.1
Licence 12.8 37.1 19.7 22.1 62.0 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.
EMBARGOED TILL 26 APRIL 2018, 1 PM
32
Table 4: Gross Allocation and Returns of Prepared Industrial Land by Industry (1Q 2017 – 1Q 2018)
Gross Allocation1 (ha) Returns1 (ha)
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
Total2 28.1 43.9 23.5 35.8 136.6 63.3 39.9 59.2 51.4 36.3 Manufacturing 14.1 32.5 3.7 12.7 99.5 26.7 25.3 37.1 34.6 9.9
Electronics - 9.1 - 3.7 36.7 - - - 9.1 -
Precision Engineering - 1.8 - 0.1 - 1.4 2.7 0.3 0.7 1.6
Chemicals 10.7 0.8 3.4 4.3 15.1 16.7 6.9 2.2 18.3 6.0 Biomedical Manufacturing - - - - - - - - - -
Transport Engineering 1.4 20.9 0.2 0.4 44.2 2.6 15.6 30.8 1.3 - General Manufacturing Industries 2.0 - 0.2 4.1 3.5
6.0 0.1 3.8 5.3 2.4
Mfg Related & Supporting 14.0 11.4 19.7 23.1 37.1 36.7 14.7 22.0 16.7 26.4 Information & Communication - - 0.0 - 9.7
2.3 - - - 4.8
Professional, Scientific & Technical Activities 2.8 0.3 0.1 1.8 9.2
- 0.3 - 0.7 1.1
Transportation & Storage 5.2 1.5 8.6 5.1 1.3 4.9 1.2 6.3 1.0 9.2
Water Supply, Sewerage & Waste Management - 1.1 - 0.0 1.9 - 1.9 0.1 0.6 -
Construction 2.4 6.6 4.6 13.0 4.6
10.4 2.7 4.9 2.8 3.9
Real Estate/ Financial Activities/ Holding Companies
2.5 - 1.1 1.1 2.3
10.9 7.6 1.1 - 1.1
Other Services 1.1 2.0 5.4 2.2 8.1 8.1 1.0 9.6 11.7 6.3
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.
EMBARGOED TILL 26 APRIL 2018, 1 PM
33
Table 5: Gross Allocation and Returns of Ready-Built Facilities by Industry (1Q 2017 – 1Q 2018)
Gross Allocation1 (‘000 sqm) Returns1 (‘000 sqm)
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
1Q 2017
2Q 2017
3Q 2017
4Q 2017
1Q 2018
Total 25.8 20.8 33.9 44.1 65.4 25.2 28.4 23.3 27.9 62.2 Manufacturing 14.4 7.5 18.3 20.8 32.4 13.3 14.1 5.6 14.3 29.1
Electronics 0.4 - 10.0 6.7 0.2 4.1 9.6 - 0.2 0.2
Precision Engineering 5.4 3.3 3.0 2.7 15.4 7.9 4.0 2.0 5.3 5.8
Chemicals 7.8 - 1.5 1.2 2.3 - - - 3.7 - Biomedical Manufacturing 0.3 1.2 - 0.0 - 0.2 - 0.1 1.6 6.9
Transport Engineering 0.4 - 0.0 7.4 3.0 0.1 - - 0.4 9.7 General Manufacturing Industries 0.2 3.0 3.8 2.8 11.6
1.0 0.5 3.5 3.2 6.6
Mfg Related & Supporting 11.4 13.3 15.6 23.2 33.0 11.9 14.3 17.6 13.6 33.1 Information & Communication 1.5 2.4 1.6 1.7 3.5 1.2 1.0 5.5 0.4 0.6
Professional, Scientific & Technical Activities 2.4 1.6 2.7 4.9 7.1 2.4 8.4 5.5 3.3 10.6
Transportation & Storage 0.0 1.6 - - 2.1 - 2.2 0.0 0.1 1.9
Water Supply, Sewerage & Waste Management - - - - 7.2 - - - - -
Construction 0.5 1.0 2.3 3.7 0.8 1.3 0.5 3.2 0.2 9.2 Real Estate/ Financial Activities/ Holding Companies
0.6 4.3 0.7 0.1 1.2 1.5 0.3 0.5 0.4 0.9
Other Services 6.4 2.4 8.3 12.9 11.1 5.4 1.9 2.8 9.2 10.0 Note: 1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB.
EMBARGOED TILL 26 APRIL 2018, 1 PM
34
Table 6: Total Allocated and Supply by Product Segment (Prepared Industrial Land) (1Q 2017 – 1Q 2018)
Total Allocated1 as at
1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018
Prepared Industrial Land (ha)
Total2 6,466.4 6,470.2 6,436.9 6,427.6 7,110.5
Generic Land 3,512.3 3,515.0 3,479.4 3,477.2 3,793.9
Tuas Biomedical Park 150.5 150.5 150.5 150.5 150.5
Jurong Island 1,759.6 1,753.9 1,753.2 1,738.8 1,748.1
Wafer Fab Park 116.8 125.4 125.1 119.8 165.8
Business Park 70.2 70.5 71.6 71.3 76.2
Logistics Park 147.5 147.5 147.5 150.1 150.1
Seletar Aerospace Park 50.3 50.3 50.3 53.4 46.9 Land for JTC Ready-Built Facilities (RBF) 659.3 657.2 659.3 666.5 979.0
Supply1
1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018
Prepared Industrial Land (ha) Total2 7,404.4 7,450.6 7,458.4 7,475.7 8,179.7
Generic Land 3,935.9 3,967.2 3,975.6 3,990.5 4,276.7
Tuas Biomedical Park 212.9 212.9 212.9 212.9 212.9
Jurong Island 1,942.5 1,941.2 1,940.9 1,940.9 1,937.5
Wafer Fab Park 254.2 267.0 267.0 267.0 274.2
Business Park 123.9 121.9 121.9 121.2 127.2
Logistics Park 157.3 157.3 157.3 157.3 157.3
Seletar Aerospace Park 72.3 72.3 72.3 72.9 66.0 Land for JTC Ready-Built Facilities (RBF) 705.4 710.8 710.6 713.2 1,127.8
Note:
1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB.
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.
EMBARGOED TILL 26 APRIL 2018, 1 PM
35
Table 7: Total Allocated and Supply by Product Segment (Ready-Built Facilities) (1Q 2017 – 1Q 2018)
Total Allocated1 as at
1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018
Ready-Built Facilities (‘000 sqm)
Total 3,058.9 3,053.3 3,064.9 3,103.2 5,132.4
High-Rise Space2 318.2 321.1 338.6 360.3 1,482.2
Business Park Space 282.2 285.4 281.7 281.7 270.2
Land-Based Factory3 2,302.7 2,292.3 2,291.6 2,309.1 2,879.9
Workshop Space 155.8 154.4 153.1 152.1 500.0
Supply1
1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018
Ready-Built Facilities (‘000 sqm)
Total 3,455.8 3,460.8 3,533.9 3,654.2 6,136.6 High-Rise Space2 479.2 479.3 551.4 660.1 1,798.0
Business Park Space 311.5 314.7 314.6 314.6 314.5
Land-Based Factory3 2,498.5 2,500.2 2,501.1 2,512.5 3,486.7
Workshop Space 166.6 166.6 166.7 167.0 537.4 Table 8: Occupancy Rate of Ready-Built Facilities1 (1Q 2017 – 1Q 2018)
1Q 2017 2Q 2017 3Q 2017 4Q 2017 1Q 2018
Ready-Built Facilities (%)
Overall 88.5 88.2 86.7 84.9 83.6
High-Rise Space2 66.4 67.0 61.4 54.6 82.4
Business Park Space 90.6 90.7 89.5 89.5 85.9
Land-Based Factory3 92.2 91.7 91.6 91.9 82.6
Workshop Space 93.5 92.7 91.9 91.1 93.0
Notes:
1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB.
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.