Sumary of Singapore’s industrial rents, prices up in second quarter:
- In the second quarter of the year, total available stock increased by 374,000 sq m compared with the first quarter, the largest quarterly rise since 2017. By the end of the third month in the second quarter, there was 50.5 million sq m of industrial space.
- Mirroring the first quarter, multiple-user factories was the only segment seeing quarter-on-quarter growth in occupancy rate, rising 0.7 per cent.
- Occupancy rate for single-user factories remained unchanged in the second quarter.
- During the quarter, JTC allocated a total of 103,100 sq m of ready-built facilities (RBF) space to industrialists, which included 66,900 sq m of high-rise space and 23,700 sq m of land-based factory space.
- Total RBF returns in the second quarter were 44,500 sq m, of which 30,200 sq m was high-rise space and 8,600 sq m was land-based factory space.
- The industrial land and infrastructure agency expects a further increase in industrial space supply.