QUARTERLY MARKET REPORT INDUSTRIAL …...MARKET REPORT FOR THE INDUSTRIAL PROPERTY MARKET (1Q 2017) EXECUTIVE SUMMARY 1. Prices and rentals of industrial space continued to fall in

EMBARGOED TILL 27 APRIL 2017, 1.30 PM

QUARTERLY MARKET REPORT

INDUSTRIAL PROPERTIES

FIRST QUARTER 2017


CONTENTS

Page

Market Report for the Industrial Property Market (1Q 2017) 1 Executive Summary 1 2 Market Trends in 1Q 2017 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 10

Annex – Industrial Property Market Statistics A1 Price Statistics 11 A2 Rental Statistics 15 A3 Stock and Vacancy Statistics 18 A4 Potential Supply Statistics 23 A5 Statistics on Industrial Units Available for Sale 25 A6 List of Major Industrial Projects Completed in 1Q 2017 26 A7 List of Major Industrial Projects in the Pipeline as at End of 1Q 2017 28 B Statistics on JTC’s Prepared Industrial Land and Ready-Built Facilities 33

To be completed by 2017

~2.0 million sqm

Beyond 2017

~2.3 million sqm

Uncompleted strata units for sale

~1,400 units

Industrial PropertiesQuarterly Market Report

1st Quarter 2017

Change Over Previous Quarter

Change Over Previous Year

0.1% points

0.7% points

2.2%

8.9%

0.9%

5.0% 1.8million sqm

0.4million sqm

Future industrial space supply

Prices and rentals of industrial space continued to fall in tandem with occupancy rates.

Occupancy rate of industrial space

Price index of allindustrial space

Rental index of allindustrial space

Totalindustrial space

wongsh-jtc

Rectangle


1

MARKET REPORT FOR THE INDUSTRIAL PROPERTY MARKET (1Q 2017) EXECUTIVE SUMMARY 1. Prices and rentals of industrial space continued to fall in tandem with occupancy rates. In 1Q 2017, the price and rental indices for the overall industrial property market fell by 2.2% and 0.9% respectively compared to the previous quarter. Compared to a year ago, the price and rental indices fell by 8.9% and 5.0%. 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 2017

4Q 2016 1Q 2017

% Change

Over Previous Quarter

Over Previous

Year

Price

All Industrial 95.4 93.3 -2.2 -8.9

Multiple-User Factory 98.7 96.9 -1.8 -6.4

Single-User Factory 85.4 82.8 -3.0 -12.3

Rental

All Industrial 93.8 93.0 -0.9 -5.0

Multiple-User Factory 91.7 90.7 -1.1 -5.2

Single-User Factory 100.9 99.9 -1.0 -5.7

Business Park 105.4 104.3 -1.0 0.4

Warehouse 91.0 90.5 -0.5 -6.1

Occupancy Rate1

All Industrial 89.5% 89.4% -0.1 -0.7

Multiple-User Factory 87.3% 87.0% -0.3 -0.3

Single-User Factory 90.9% 90.6% -0.3 -1.3

Business Park 83.0% 84.0% 1.0 2.3

Warehouse 89.7% 89.9% 0.2 -0.5 Note: 1 The % change refers to absolute change over previous year/quarter.

2. For the next three quarters of 2017, about 2.0 million sqm of industrial space, including 421,000 sqm of multiple-user factory space, is estimated to come on-stream. This is higher than the average annual supply and demand of around 1.8 million sqm and 1.3 million sqm respectively in the past 3 years. This is likely to exert further downward pressure on occupancy rates, prices and rentals, translating to reduced business cost for industrialists. 3. For industrialists looking to own production spaces, there were around 1,400 units in uncompleted strata-titled developments that remained available for sale at the end of 1Q 2017. These totalled about 330,000 sqm of space, representing around 3% of the existing multiple-user factory stock. With the upcoming supply, there will be ample space options available to industrialists to site or relocate their operations.


2

MARKET TRENDS IN 1Q 2017 4. In 1Q 2017, the occupancy rate for the overall industrial property market fell by 0.1 percentage points on a quarter-on-quarter basis to 89.4% (Exhibit 2a). On a year-on-year basis, the occupancy rate fell by 0.7 percentage points from 90.1% in 1Q 2016. Exhibit 2a: Occupancy Rate of Industrial Space

5. For multiple-user factory space, the occupancy rate decreased by 0.3 percentage points on a quarter-on-quarter basis to 87.0%. Similarly, occupancy rate of multiple-user factory space fell by 0.3 percentage points on a year-on-year basis (Exhibit 2b).

Exhibit 2b: Occupancy Rate of Multiple-User Factory Space

84.0%

86.0%

88.0%

90.0%

92.0%

94.0%

-400

-200

0

200

400

600

2010

Q1

2010

Q3

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

Occupancy Rate (%)

Change in Stock

('000 sqm)

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

80.0%

82.0%

84.0%

86.0%

88.0%

90.0%

92.0%

94.0%

96.0%

-150

-100

-50

0

50

100

150

200

250

2010

Q1

2010

Q3

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

Occupancy Rate (%)

Change in Stock

('000 sqm)

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


3

6. Rentals continued to fall. In 1Q 2017, the rental index of the overall industrial space and multiple-user factory space fell by 0.9% and 1.1% respectively on a quarter-on-quarter basis, extending the 0.5% decline in the previous quarter. Compared to a year ago, the rental indices for overall industrial space and multiple-user factory space fell by 5.0% and 5.2% respectively in 1Q 2017 (Exhibits 3a and 3b).

Exhibit 3a: Rental Indices of Industrial Space Exhibit 3b: Rental Indices of Industrial Space

97.996.2

94.3 93.8 93.095.7

93.492.2 91.7

90.7

86

90

94

98

102

2016Q1 2016Q2 2016Q3 2016Q4 2017Q1

All Industrial SpaceMultiple-User Factory Space

Rental Index2012Q4=100

0

20

40

60

80

100

120

2007Q1 2008Q1 2009Q1 2010Q1 2011Q1 2012Q1 2013Q1 2014Q1 2015Q1 2016Q1 2017Q1

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)

1Q 2016

2Q 2016

3Q 2016

4Q 2016

1Q 2017

% Change Over

Previous Quarter

Planning Region Central 97.2 94.0 92.1 92.0 91.6 -0.4 North 95.7 94.9 94.8 94.3 92.6 -1.8

West 88.8 86.2 85.9 84.2 82.7 -1.8

East 95.6 94.1 94.3 92.8 92.5 -0.3 Northeast 87.7 87.3 85.0 85.0 83.8 -1.4

Land-Use Zoning

Business 1 95.8 93.1 91.7 91.4 90.8 -0.7

Business 2 90.5 89.3 88.8 87.6 86.0 -1.8 8. Prices of industrial space also continued to fall. In 1Q 2017, the price indices for overall industrial space and multiple-user factory space fell further by 2.2% and 1.8% respectively on a quarter-on-quarter basis. Compared to a year ago, they were lower by 8.9% and 6.4% respectively (Exhibits 4a and 4b). Exhibit 4a: Price Indices of Industrial Space

0

20

40

60

80

100

120

2007Q1 2008Q1 2009Q1 2010Q1 2011Q1 2012Q1 2013Q1 2014Q1 2015Q1 2016Q1 2017Q1All 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)

1Q 2016

2Q 2016

3Q 2016

4Q 2016

1Q 2017

% Change Over

Previous Quarter

Planning Region Central 103.0 102.8 102.0 98.5 97.2 -1.3

North 95.0 92.4 91.7 90.3 88.2 -2.3 West 91.8 91.0 89.8 88.7 87.4 -1.5

Others 96.7 92.8 92.0 89.7 88.0 -1.9

Land-Use Zoning

Business 1 101.9 99.0 97.3 95.7 95.2 -0.5 Business 2 90.7 90.3 90.2 87.8 85.1 -3.1

Remaining Tenure <30 years 95.8 95.2 93.1 91.6 90.6 -1.1 31-60 years 98.9 96.0 96.0 93.2 90.6 -2.8

>60 years 98.5 96.9 96.7 95.2 94.0 -1.3

102.4

100.098.3

95.4

93.3

103.5101.8

100.8

98.796.9

90

94

98

102

106

2016Q1 2016Q2 2016Q3 2016Q4 2017Q1

All Industrial SpaceMultiple-User Factory Space

Price Index(2012Q4=100)


6

10. The transaction volume also continued to fall. Based on the number of caveats lodged for industrial properties, the transaction volume fell by around 24% in 1Q 2017 compared to one year ago, and 67% from 3 years ago (Exhibit 5).

Exhibit 5: Transaction Volume of Industrial Properties

ALLOCATION OF JTC’S READY-BUILT FACILITIES (RBF) 11. In 1Q 2017, JTC allocated a total of 22,000 sqm of RBF space to industrialists, which included 11,700 sqm of flatted factory space and another 8,200 sqm of standard factory space. Of the allocated flatted factory space, over 60% was allocated at JTC Space @ Tampines North and JTC LaunchPad @ one-north. 12. Total RBF returns in 1Q 2017 was 25,200 sqm, of which 5,500 sqm was flatted factory space and 13,900 sqm was standard factory space. About two-thirds of the total RBF returns was due to companies consolidating their operations and redevelopment.

ALLOCATION OF INDUSTRIAL LAND

13. In 1Q 2017, the tenders for four Industrial Government Land Sales (IGLS) sites targeted at single-user developments and totalling 2.39 ha closed. Of which, one site at Woodlands received no bids. On the other hand, the remaining three small sites at Tuas and Tampines received 3 to 5 bids each, reflecting continued demand from end-user industrialists. 14. Tender prices for the small IGLS sites continued to consolidate. For example, the average tender prices for the two sites at Tuas that closed in 1Q 2017 remained slightly below $400 psm ppr, which was comparable to tender prices received for similar sites in Tuas in 2016. Tender prices for the small IGLS site in Tampines also remained low at around $450 psm ppr in 1Q 2017, compared to around $700 psm ppr in second half of 2015.

0

100

200

300

400

500

600

2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 2016Q1 2016Q2 2016Q3 2016Q4 2017Q1

New Sale Resale Sub SaleNumber of

Caveats Lodged


7

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. *Price based on highest bid. Assessment of the award of the tender for IGLS site at Plot 15, Tuas South Link 3 is still in progress when this report is released on 27 April 2017. 15. Besides IGLS, JTC also allocated 28.1 ha of prepared industrial land (PIL) in 1Q 2017. About half of the land (14.1 ha) was allocated to manufacturing companies, while the remaining half (14.0 ha) was allocated to manufacturing related and supporting industries. In the same period, 63.3 ha of PIL was returned to JTC, with natural expiries and redevelopments accounting for more than half of the total returns.

0

200

400

600

800

1,000

Jul2015

Aug2015

Sep2015

Oct2015

Nov2015

Jan2016

Feb2016

Mar2016

Jul2016

Aug2016

Oct2016

Nov2016

Dec2016

Jan2017

Feb2017

Mar2017

3Q 20163Q 2015 1Q 20164Q 2015 4Q 2016 1Q 2017

Tender Closing Month : IGLS sites for Single-User Developments at Tuas : IGLS sites for Single-User Developments at Tampines

Average Successful Tender Price, $ psm ppr

(4)#

(4)

(5)

(2)

(3)

(2)

(2)

(3)

(4)

(5)

(5)

(6)

(3) (3)

(5)

(4) (3)

(5)*


8

OUTLOOK ON FUTURE SUPPLY

16. In the next three quarters of 2017, about 2.0 million sqm of industrial space is estimated to come on-stream. This is about 4% of current available stock. As a comparison, the average annual supply and demand of industrial space was around 1.8 million sqm and 1.3 million sqm 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. 17. For multiple-user factory space, about 421,000 sqm and 422,000 sqm is estimated to come on-stream in the next three quarters of 2017 and in the whole of 2018 respectively. As a comparison, the annual supply and demand of multiple-user factory space for the past 3 years was around 427,000 sqm and 327,000 sqm respectively. With the amount of space coming on-stream, there should be ample space over the coming years for industrialists to site or relocate their operations. 18. At end of 1Q 2017, there were around 1,400 units, totalling about 330,000 sqm, in uncompleted strata-titled developments still available for sale. A majority of the unsold units were located in the North region of Singapore. Among the 1,400 unsold units, about 4 in 10 were Business 2 spaces. Over the next three quarters, we expect 360 of the unsold units to be completed and this will provide additional options for industrialists looking to own production space (Exhibit 8) and start their operations in the coming year.

0

1,000

2,000

3,000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

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

Historical Upcoming


9

Exhibit 8: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments

19. In the next three quarters of 2017, development works for three JTC developments, totalling around 251,000 sqm, is expected to be completed. An additional 68,000 sqm of space from one JTC development is expected to come on-stream in 2018. (Exhibit 9).

1,056

376

0

200

400

600

800

1,000

1,200

1,400

1,600

North Others

No. of Units By Planning Region

966

307

11742

0

200

400

600

800

1,000

1,200

1,400

1,600

< 200 sqm 200 – 299 sqm

300 – 499 sqm

>= 500 sqm

By Floor Area

869

563

0

200

400

600

800

1,000

1,200

1,400

1,600

Business 1 Business 2

No. of Units By Land Use Zoning

358

1,074

0

200

400

600

800

1,000

1,200

1,400

1,600

2017 > 2017

No. of Units By Expected Year of Completion

No. of Units


10

Exhibit 9: JTC’s Projects in the Pipeline as at End of 1Q 2017

Project Gross Floor Area (sqm)

Expected Completion Date

JTC Food Hub @ Senoko 85,790 2nd Qtr 2017

LaunchPad @ Jurong Innovation District 5,310 2nd Qtr 2017

JTC Space @ Tuas 159,490 4th Qtr 2017

JTC Furniture Hub @ Sungei Kadut 68,410 3rd Qtr 2018

CONCLUSION

20. Prices and rentals of industrial space continued to soften, in tandem with the decline in occupancy rates. With more supply coming on-stream in the coming quarters, this is likely to exert further downward pressures on prices and rentals, translating to reduced business cost for industrialists. JTC will monitor the market closely to ensure a stable and sustainable supply of land and space to support the needs of industrialists. 21. Going forward, JTC will continue to develop new industrial facilities that will meet the needs of industrialists, support their transformation and upgrading, and enhance their productivity and competitiveness.


Annex A – Industrial Property Market Statistics

11

Annex A-1: Price Statistics Table 1: Quarterly Price Index of Industrial Space (1Q 2016 – 1Q 2017)

Market Segment 1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017 % Change


All Industrial 102.4 100.0 98.3 95.4 93.3 -2.2 Multiple-User Factory 103.5 101.8 100.8 98.7 96.9 -1.8

Planning Region

Central Region 103.0 102.8 102.0 98.5 97.2 -1.3

North Region 95.0 92.4 91.7 90.3 88.2 -2.3

West Region 91.8 91.0 89.8 88.7 87.4 -1.5

Other Regions 96.7 92.8 92.0 89.7 88.0 -1.9

Land-Use Zoning

Business 1 101.9 99.0 97.3 95.7 95.2 -0.5

Business 2 90.7 90.3 90.2 87.8 85.1 -3.1

Remaining Tenure

< 30 Years 95.8 95.2 93.1 91.6 90.6 -1.1

31 – 60 Years 98.9 96.0 96.0 93.2 90.6 -2.8

> 60 Years 98.5 96.9 96.7 95.2 94.0 -1.3

Single-User Factory 94.4 91.4 88.9 85.4 82.8 -3.0 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.


12

Table 2: Quarterly Price Index of Industrial Space (2Q 2014 – 1Q 2017)

Period Price Index

All Industrial1 Multiple-User Factory2 Single-User Factory3

2Q 2014 107.9 109.9 99.5

3Q 2014 106.9 107.9 98.8

4Q 2014 106.8 107.7 99.0

1Q 2015 107.6 107.8 100.6

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 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



13

Table 3: Quarterly Price Index of Multiple-User Factory by Planning Region (2Q 2014 – 1Q 2017)

Period Price Index of Multiple-User Factory

Central Region North Region West Region Other Regions

2Q 2014 110.8 101.0 100.5 100.0

3Q 2014 107.1 100.6 98.3 99.1

4Q 2014 106.6 100.5 98.1 99.2

1Q 2015 107.7 98.8 96.5 100.7

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 Note:




14

Table 4: Quarterly Price Index of Multiple-User Factory by Remaining Tenure and Land-Use Zoning (2Q 2014 – 1Q 2017)

Period

Price Index of Multiple-User Factory

Remaining Tenure Land-Use Zoning

≤ 30 Years 31 – 60 Years > 60 Years Business 1 Business 2

2Q 2014 100.6 105.3 105.6 107.8 98.3

3Q 2014 105.5 102.9 101.6 105.0 97.4

4Q 2014 108.0 103.4 99.2 105.5 95.3

1Q 2015 108.2 102.8 100.5 106.1 94.6

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 Note:




15

Annex A-2: Rental Statistics Table 5: Quarterly Rental Index of Industrial Space (1Q 2016 – 1Q 2017)

Market Segment 1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017 % Change


All Industrial 97.9 96.2 94.3 93.8 93.0 -0.9 Multiple-User Factory 95.7 93.4 92.2 91.7 90.7 -1.1

Planning Region

Central Region 97.2 94.0 92.1 92.0 91.6 -0.4

North Region 95.7 94.9 94.8 94.3 92.6 -1.8

West Region 88.8 86.2 85.9 84.2 82.7 -1.8

East Region 95.6 94.1 94.3 92.8 92.5 -0.3

Northeast Region 87.7 87.3 85.0 85.0 83.8 -1.4

Land-Use Zoning

Business 1 95.8 93.1 91.7 91.4 90.8 -0.7

Business 2 90.5 89.3 88.8 87.6 86.0 -1.8

Single-User Factory 105.9 104.0 101.8 100.9 99.9 -1.0

Business Park 103.9 104.4 104.2 105.4 104.3 -1.0

Warehouse 96.4 95.4 91.2 91.0 90.5 -0.5 Note: 1. The rental index is computed using fixed weights based on 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the



16

Table 6: Quarterly Rental Index of Industrial Space (2Q 2014 – 1Q 2017)

Period

Rental Index

All Industrial1

Multiple-User Factory2

Single-User Factory3

Business Park3 Warehouse2

2Q 2014 105.3 104.9 107.4 106.9 100.6

3Q 2014 103.4 102.6 109.5 105.9 100.6

4Q 2014 102.8 102.8 108.9 106.2 98.8

1Q 2015 103.2 102.9 109.2 106.6 99.4

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 Note: 1. 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.

2. 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.

3. The rental index is computed using fixed weights based on 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the



17

Table 7: Quarterly Rental Index of Multiple-User Factory by Planning Region and Land-Use Zoning (2Q 2014 – 1Q 2017)

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 2014 100.8 98.7 100.0 102.1 103.6 101.0 100.5

3Q 2014 99.7 102.3 103.3 105.4 103.4 101.1 102.5

4Q 2014 101.1 98.7 99.5 107.6 104.9 101.8 100.8

1Q 2015 102.4 98.0 98.3 101.7 106.0 102.6 98.8

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 Note: 1. The rental index is computed using fixed weights based on 2012 transaction values before 1st Quarter 2016. From 1st Quarter 2016, the



18

Annex A-3: Stock and Vacancy Statistics Table 8: Stock and Vacancy Rate of Industrial Space (4Q 2016 – 1Q 2017)

Property Type Market Indicator As at 4Q 2016

As at 1Q 2017


Absolute Change

% Change

All Industrial Space

Available (‘000 sq m) 46,282 46,691 409 0.9

Occupied (‘000 sq m) 41,407 41,719 312 0.8

Vacant (‘000 sq m) 4,875 4,972 97 2.0

Vacancy Rate (%) 10.5 10.6 0.1 -

Factory Space

Available (‘000 sq m) 36,812 37,063 251 0.7

Occupied (‘000 sq m) 32,914 33,060 146 0.4

Vacant (‘000 sq m) 3,898 4,003 105 2.7

Vacancy Rate (%) 10.6 10.8 0.2 -

Multiple-User Factory

Available (‘000 sq m) 10,572 10,700 128 1.2 Occupied (‘000 sq m) 9,225 9,305 80 0.9 Vacant (‘000 sq m) 1,347 1,395 48 3.6 Vacancy Rate (%) 12.7 13.0 0.3 -

Single-User Factory

Available (‘000 sq m) 24,100 24,224 124 0.5

Occupied (‘000 sq m) 21,912 21,958 46 0.2

Vacant (‘000 sq m) 2,188 2,266 78 3.6

Vacancy Rate (%) 9.1 9.4 0.3 -

Business Park

Available (‘000 sq m) 2,140 2,140 - 0.0

Occupied (‘000 sq m) 1,777 1,798 21 1.2

Vacant (‘000 sq m) 363 342 -21 -5.8

Vacancy Rate (%) 17.0 16.0 -1.0 -

Warehouse Space

Available (‘000 sq m) 9,470 9,629 159 1.7

Occupied (‘000 sq m) 8,493 8,660 167 2.0

Vacant (‘000 sq m) 977 969 -8 -0.8

Vacancy Rate (%) 10.3 10.1 -0.2 -


19

Table 9: Stock and Vacancy Rate of All Industrial Space (2Q 2014 – 1Q 2017)

Period Stock (‘000 sq m)

Vacancy Rate (%) Available Occupied Vacant

2Q 2014 41,968 38,064 3,904 9.3

3Q 2014 42,291 38,440 3,851 9.1

4Q 2014 42,843 38,930 3,913 9.1

1Q 2015 43,189 39,162 4,027 9.3

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 Table 10: Stock and Vacancy Rate of Multiple-User Factory Space (2Q 2014 – 1Q 2017)



2Q 2014 9,613 8,388 1,225 12.7

3Q 2014 9,759 8,469 1,290 13.2

4Q 2014 9,887 8,621 1,266 12.8

1Q 2015 9,972 8,729 1,243 12.5

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


20

Table 11: Stock and Vacancy Rate of Single-User Factory Space (2Q 2014 – 1Q 2017)



2Q 2014 22,534 21,040 1,494 6.6

3Q 2014 22,658 21,111 1,547 6.8

4Q 2014 22,803 21,194 1,609 7.1

1Q 2015 22,930 21,303 1,627 7.1

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 Table 12: Stock and Vacancy Rate of Business Park Space (2Q 2014 – 1Q 2017)



2Q 2014 1,598 1,359 239 15.0

3Q 2014 1,596 1,374 222 13.9

4Q 2014 1,741 1,389 352 20.2

1Q 2015 1,778 1,476 302 17.0

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


21

Table 13: Stock and Vacancy Rate of Warehouse Space (2Q 2014 – 1Q 2017)



2Q 2014 8,223 7,277 946 11.5

3Q 2014 8,278 7,486 792 9.6

4Q 2014 8,412 7,726 686 8.2

1Q 2015 8,509 7,654 855 10.0

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 Table 14: Available Stock and Occupancy Rate of Newly Completed Private Multiple-User Factory Space (2Q 2014 – 1Q 2017)

Period

Year of Completion

2014 2015 2016 2017 2014 2015 2016 2017

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

2Q 2014 241 - - - 7.6 - - -

3Q 2014 404 - - - 22.2 - - -

4Q 2014 557 - - - 34.9 - - -

1Q 2015 557 56 - - 45.1 1.4 - -

2Q 2015 557 197 - - 58.7 10.1 - -

3Q 2015 557 308 - - 70.8 10.6 - -

4Q 2015 557 402 - - 77.8 19.3 - -

1Q 2016 556 402 144 - 82.9 32.1 0.4 -

2Q 2016 556 410 249 - 84.5 43.2 9.9 -

3Q 2016 556 410 322 - 90.0 54.6 12.9 -

4Q 2016 556 410 386 - 90.8 61.2 16.3 -

1Q 2017 556 410 386 103 92.1 69.0 36.6 0.5 Note:

1. The available space refers to the total amount of nett floor area, which may change across quarters due to the reclassification or re-partitioning of space by industrialists.


22

Table 15: Available Stock of Industrial Space by Type of Industrial Space and Land-Use Zoning as at End of 1Q 2017

‘000 sq m nett

Industrial Space Total Floor Area Land-Use Zoning

Business 1 Business 2 All Industrial Space 46,691 9,827 32,823

Factory Space 37,063 8,274 25,135

Multiple-User Factory 10,700 5,735 4,442

Single-User Factory 24,224 2,538 20,693

Business Park 2,140 - -

Warehouse Space 9,629 1,553 7,689 Note:

1. The figures may not add up as some projects are on land zoned as Reserve Site etc.


23

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 2017

‘000 sq m gross Factory Space Total 2017 2018 2019 2020 2021 >2021

Total 3,166 1,247 935 545 248 191 -

Under Construction 2,232 1,090 500 479 163 - -

Planned 934 157 435 66 85 191 -

Written Permission 345 105 135 - 45 60 -

Provisional Permission 397 33 287 7 16 54 -

Others 192 19 13 59 24 76 -

Warehouse Space Total 2017 2018 2019 2020 2021 >2021

Total 1,176 783 163 87 143 - - Under Construction 1,058 772 151 73 63 - -

Planned 118 11 13 14 80 - -

Written Permission 31 9 3 5 14 - -

Provisional Permission 84 - 10 9 65 - -

Others 2 2 - - - - - Note:

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


24

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 2017

‘000 sq m gross Factory Space Total 2017 2018 2019 2020 2021 >2021 Total 3,166 1,247 935 545 248 191 -

Multiple-User Factory 1,375 421 422 447 31 54 -

Business 1 323 97 225 - - - -

Business 2 1,046 324 189 447 31 54 -

Single-User Factory 1,715 821 443 99 217 136 -

Business 1 172 44 61 7 - 60 -

Business 2 1,466 753 329 91 217 76 -

Business Park 75 5 71 - - - -

Warehouse Space Total 2017 2018 2019 2020 2021 >2021 Total 1,176 783 163 87 143 - -

Business 1 34 19 15 - - - -

Business 2 1,142 764 148 87 143 - - 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.


25

Annex A-5: Statistics on Industrial Units Available for Sale Table 18: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments by Planning Region as at End of 1Q 2017

Planning Region Total Units Available for Sale % Sold

Total 1,967 1,432 27 North Region 1,483 1,056 29

Others 484 376 22 Table 19: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments by Floor Area as at End of 1Q 2017

Floor Area (sq m) Total Units Available for Sale % Sold

Total 1,967 1,432 27

< 200 1,278 966 24

200 – 299 482 307 36

300 – 499 153 117 24

≥ 500 54 42 22 Table 20: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments by Expected Year of Completion as at End of 1Q 2017

Expected Year of Completion Total Units Available for

Sale % Sold

Total 1,967 1,432 27 2017 628 358 43

> 2017 1,339 1,074 20 Table 21: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments by Land-Use Zoning as at End of 1Q 2017

Land-Use Zoning Total Units Available for Sale % Sold

Total 1,967 1,432 27 Business 1 1,145 869 24

Business 2 822 563 32


26

Annex A-6: List of Major Industrial Projects Completed in 1Q 2017

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

JTC Chemicals Hub @ Tuas South at 4 Tuas South Drive JTC Corporation 26,300 26,100

(26,300)

JTC nanoSpace @ Tampines at 11 Tampines Industrial Crescent JTC Corporation 22,900 22,900

Sub-Total 49,200 49,000

FACTORY PROJECT

Private Sector

Ace@Buroh at 2 Buroh Crescent OKH Buroh Pte Ltd 44,200 44,200

Additions/alterations to single-user factory at 2 Jurong West Street 23 Google Asia Pacific Pte Ltd 64,600 41,300

(41,300)

Additions/alterations to single-user factory at 80 Tuas South Boulevard Jurong Shipyard Pte Ltd 15,400 15,400

Nordcom One at 3, 3A to 3G, 5, 5A to 5G Gambas Crescent Grow-Tech Properties Pte Ltd 30,200 30,200

Single-user development at 12 Woodlands Link

Sing Long Foodstuff Trading Co Pte Ltd 18,400 4,900

(18,400)

Single-user factory at 22 Gul Avenue Multi Ways Equipment Pte Ltd 10,600 10,600

Single-user factory at 1 Tuas South Way Shell Eastern Petroleum Pte Ltd 35,700 10,100

(35,700)

West Star at 11 Tuas Bay Close BH-ZACD (Tuas Bay) Pte Ltd 42,400 42,400

Sub-Total 261,500 199,100

Total 310,700 248,100

WAREHOUSE PROJECT

Public Sector

Sub-Total - -

WAREHOUSE PROJECT

Private Sector

CWT Distripark at 47 Jalan Buroh CWT Limited 222,200 69,100 (69,100)

Single-user development at 12 Woodlands Link

Sing Long Foodstuff Trading Co Pte Ltd 18,400 9,200

(18,400)

Warehouse development at 3 Changi South Street 1 Santa Warehousing Pte Ltd 23,000

13,200 (13,200)


27

Description and Location of Project Name of Developer Project Gross

Floor Area (sq m)

Gross Floor Area Granted

TOP in the Quarter (sq m)

WAREHOUSE PROJECT

Private Sector

Warehouse development at 36 Penjuru Lane

Asia Enterprises (Private) Limited 21,700 21,700

Sub-Total 285,300 113,200

Total 285,300 113,200

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.


28

Annex A-7: List of Major Industrial Projects in the Pipeline as at End of 1Q 2017

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 Housing & Development Board 107,250 2018

Defu Industrial City at Bartley Road East/Kim Chuan Road Housing & Development Board 326,840 na

JTC Food Hub @ Senoko at Senoko Drive JTC Corporation 68,940 2017

JTC Furniture Hub @ Sungei Kadut at Sungei Kadut Street 2 JTC Corporation 68,410 2018

JTC Space @ Tuas at Tuas Avenue 1 JTC Corporation 154,520 2017

Sub-Total 725,960

FACTORY PROJECT

Private Sector

Additions/Alterations to existing factory at Banyan Avenue Evonik Methionine (Sea) Pte Ltd 32,980 na

Additions/alterations to existing factory at Jurong Island ExxonMobil Asia Pacific Pte. Ltd. 31,250 na

Additions/alterations to existing factory at Tanjong Kling Road Jurong Shipyard Pte Ltd 13,560 2017

Additions/Alterations to existing factory at Tuas Bay Drive Syscon Pte Ltd 47,970 na

Business park development at Changi Business Park Central 2 Kingsmen Creatives Ltd 13,130 na

Business park development at Media Circle BP-DoJo LLP 20,140 2018

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

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 West Street 23 Google Asia Pacific Pte Ltd 23,250 na

Extension and additions/alterations to existing factory at Kallang Junction Vanguard Properties Pte Ltd 10,590 2017

Extension to existing factory at Ang Mo Kio Street 64 United Engineers Limited 60,180 na

Extension to existing industrial development at Jalan Boon Lay Hanwell Holdings Limited 3,110 na

Mandai FoodLink at Mandai Link Wealth Property Pte Ltd 17,080 2017

Mega@Woodlands at Woodlands Close Wee Hur Development Pte Ltd 97,860 2018


29


Area (sq m)

Expected Year of

Final TOP

FACTORY PROJECT

Private Sector

Multiple-user factory at Boon Keng Road/Kallang Place

DBS Trustee Limited as Trustee of Mapletree Industrial Trust 31,260 na

Multiple-user factory at Depot Road Mapletree Industrial Trust Management Ltd 39,070 2017

Multiple-user factory at Irving Road NS Property Development Pte Ltd 15,170 2018

Multiple-user factory at Kallang Way SB (Waterview) Investment Pte Ltd 54,490 na

Multiple-user factory at Kallang Way SB (Waterfront) Investment Pte Ltd 31,490 na

Multiple-user factory at Marsiling Road

HSBC Institutional Trust Services (Singapore) Limited as Trustee of AIMS AMP Capital Industrial REIT

21,530 na

Multiple-user factory at Tuas Avenue 11 Soon Hock Realty Pte Ltd 12,490 na

Multiple-user factory at Woodlands Sector 2 Yee Lee Development Pte Ltd 13,290 2018

Nordcom Two at Gambas Avenue Grow-Tech Properties Pte Ltd 69,600 na

Novelty Techpoint at Lim Teck Boo Road/New Industrial Road Novelty Dept Store Pte Ltd 10,980 2018

Proxima @ Gambas at Gambas Crescent NSS Realty Pte Ltd 39,160 2017

Shine@Tuas South at Tuas South Link 1 Beacon Properties Pte. Ltd. 51,200 na

Single-user factory at Airport Road Soilbuild Pte Ltd 32,250 2017

Single-user factory at Airport Road Teambuild (ICPH) Pte Ltd 32,390 na

Single-user factory at Ang Mo Kio Electronics Park Road

Singapore Technologies Electronics Ltd 30,000 na

Single-user factory at Benoi Road Makino Asia Pte Ltd 10,170 2017

Single-user factory at Boon Keng Road BP-CA3 LLP 11,150 na

Single-user factory at Chin Bee Drive Silesia Flavours South East Asia Pte Ltd 16,220 na

Single-user factory at Eunos Avenue 3 Index-Cool Furniture Design & Construction Pte Ltd 12,440 2017

Single-user factory at Fan Yoong Road Tiong Seng Contractors (Pte) Ltd 14,400 2017

Single-user factory at Gul Circle Federal Packaging Industries (Pte) Ltd 12,370 na

Single-user factory at Pandan Road CrestSA Marine & Offshore Pte. Ltd. 11,430 2017

Single-user factory at Pandan Road Newspaper Seng Pte Ltd 15,280 2017


30


Area (sq m)

Expected Year of

Final TOP

FACTORY PROJECT

Private Sector

Single-user factory at Pioneer Sector Lane Hua Siah Construction Pte Ltd 16,110 na

Single-user factory at Pioneer Sector Lane OKH Holdings Pte Ltd 12,780 2017

Single-user factory at Seletar Aerospace Avenue Excel Venture Capital Pte Ltd 10,320 na

Single-user factory at Senoko Way D.A. Foods Industries Pte Ltd 12,000 2018

Single-user factory at Sunview Drive DBS Trustee Limited as Trustee of Mapletree Industrial Trust 22,500 na

Single-user factory at Sunview Road Hunting Energy Services (International) Pte Ltd 32,560 na

Single-user factory at Tampines Street 92 Keppel DC Singapore 4 Pte Ltd 16,920 na

Single-user factory at Tuas Avenue 20 Hetat Pte. Ltd. 19,140 2017

Single-user factory at Tuas Avenue 20 HSBC Institutional Trust Services (Singapore) Limited 14,780 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 2017

Single-user factory at Tuas Road PH Hydraulics & Engineering Pte Ltd 14,360 2017

Single-user factory at Tuas South Avenue 3 Hydrochem (S) Pte Ltd 47,490 na

Single-user factory at Tuas View Circuit Veolia ES Singapore Industrial Pte Ltd 12,070 na

Single-user factory at Woodlands Avenue 12 Global Switch Property (S) Pte Ltd 25,000 2018

Single-user industrial development at Leng Kee Road Wealth Assets Pte Ltd 4,930 2017

Single-user industrial development at Soon Lee Road

Lian Hock Hardware Industries Pte Ltd 4,040 2017

Single-user industrial development at Tanjong Penjuru Trans Eurokars Pte Ltd 26,250 na

Single-user industrial development at Tuas West Drive

Peck Tiong Choon (Private) Limited 10,520 2018

Single-user industrial development at Tukang Innovation Drive

DORMA Production GmBH & Co. KG. 15,600 na

T-Space at Tampines North Drive 1 Goldprime Land Pte. Ltd. 68,470 na

Wave9 at Woodlands Industrial Park E9 Vantage Properties Pte Ltd 45,980 na

Sub-Total 1,488,750

Total 2,214,710


31


Area (sq m)

Expected Year of

Final TOP

WAREHOUSE PROJECT

Public Sector

JTC Food Hub @ Senoko at Senoko Drive JTC Corporation 16,850 2017

Sub-Total 16,850

WAREHOUSE PROJECT

Private Sector

Additions/Alterations to existing factory at Tuas South Lane

Hyflux Membrane Manufacturing (S) Pte Ltd 41,480 2017

Carros Centre at Jalan Lam Huat Kranji Development Pte Ltd 108,360 2017

Extension to existing industrial development at Jalan Boon Lay Hanwell Holdings Limited 18,090 na

Extension to existing warehouse at Seraya Place Bertschi Singapore Pte Ltd 10,640 2017

Single-user industrial development at Leng Kee Road Wealth Assets Pte Ltd 7,370 2017

Single-user industrial development at Soon Lee Road

Lian Hock Hardware Industries Pte Ltd 6,790 2017

Single-user industrial development at Tanjong Penjuru Trans Eurokars Pte Ltd 13,770 na

Single-user industrial development at Tuas West Drive

Peck Tiong Choon (Private) Limited 18,960 2018

Single-user industrial development at Tukang Innovation Drive

DORMA Production GmBH & Co. KG. 4,160 na

Warehouse development at Benoi Road GKE Warehousing & Logistics Pte Ltd 39,760 2017

Warehouse development at Jalan Ahmad Ibrahim/Tuas Avenue 1

HSBC Institutional Trust Services (Singapore) Limited 44,310 2018

Warehouse development at Jalan Besut Hock Seng Heng Transport and Trading Pte Ltd 11,110 na

Warehouse development at Jalan Buroh CWT Limited 153,030 na

Warehouse development at Jalan Buroh Hankyu Hanshin Express (Singapore) Pte. Ltd. 47,890 na

Warehouse development at Pandan Road Francois Marine Services Pte Ltd 11,780 2017

Warehouse development at Pandan Road Poh Tiong Choon Logistics Limited 50,940 2017

Warehouse development at Pasir Panjang Road

Singapore Storage & Warehouse Pte Ltd 11,540 na

Warehouse development at Penjuru Lane Euro-Asia Investment Pte Ltd 37,260 na

Warehouse development at Pioneer Road HSBC Institutional Trust Services (Singapore) Limited 71,680 2017

Warehouse development at Pioneer Road Toll Logistics (Asia) Ltd 101,010 2017


32


Area (sq m)

Expected Year of

Final TOP

WAREHOUSE PROJECT

Private Sector

Warehouse development at Pioneer View Panalpina World Transport (S) Pte Ltd 29,990 na

Warehouse development at Sungei Kadut Lane Lorenzo International Limited 14,290 na

Warehouse development at Tuas South Avenue 14 Diamond Land Pte. Ltd. 65,230 2020

Warehouse development at Tuas South Avenue 14 Pacific Investment Group Pte Ltd 49,240 na

Warehouse development at Tuas South Street 11 Tiong Aik Construction Pte Ltd 10,000 2017

Sub-Total 978,680

Total 995,530

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.


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

33

Table 1: Gross Allocation and Returns by Product Segment (1Q 2016 – 1Q 2017)

Gross Allocation Returns

1Q 2016

2Q 2016

3Q 2016

4Q 2016

1Q 2017

1Q 2016

2Q 2016

3Q 2016

4Q 2016

1Q 2017

Prepared Industrial Land (ha)

Total1 67.0 24.0 21.6 32.8 28.1 29.1 40.7 13.0 60.5 63.3

Generic Land 38.5 16.6 9.4 19.0 13.3 22.0 17.9 12.2 45.9 43.0

Tuas Biomedical Park - - 2.0 0.4 1.0 - 2.4 - - -

Jurong Island 27.8 7.4 10.2 12.3 13.7 7.0 20.5 0.6 14.6 20.3

Wafer Fab Park - - - - - - 0.0 - - -

Business Park 0.0 - - 1.1 0.0 0.1 - 0.2 - -

Logistics Park - - - - - - - - - - Seletar Aerospace Park 0.7 - - 0.1 - - - - - -

Ready-Built Facilities (‘000 sqm)

Total 17.3 33.4 11.5 17.3 22.0 26.3 23.8 19.1 12.5 25.2 Flatted Factory Space 7.8 10.9 5.4 7.9 11.7 4.9 4.0 3.8 7.1 5.5

Business Park Space 1.3 18.8 0.3 3.0 1.3 9.6 3.6 0.3 1.7 3.6 Standard Factory Space 7.3 3.5 5.4 5.3 8.2 10.2 15.9 12.6 2.7 13.9

Workshop Space 0.9 0.2 0.4 1.1 0.7 1.6 0.4 2.4 1.0 2.2 Note: 1. Total excludes Prepared Industrial Land that is tendered out as part of the IGLS programme.


34

Table 2: Gross Allocation by Allocation Mode (1Q 2016 – 1Q 2017)

Gross Allocation

1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017

Prepared Industrial Land (ha) Total1 67.0 24.0 21.6 32.8 28.1

Direct Allocation2 56.1 19.4 15.9 29.1 19.8

Tender/ Launches3 10.9 4.5 5.7 3.7 8.3


Total 17.3 33.4 11.5 17.3 22.0 Direct Allocation2 13.4 32.5 9.2 14.8 14.4

Tender/ Launches3 3.9 0.9 2.4 2.5 7.6 Note:

1. Total excludes Prepared Industrial Land that is tendered out as part of the IGLS programme.

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

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

Table 3: Gross Allocation by Allocation Type (1Q 2016 – 1Q 2017)

Gross Allocation

1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017 Prepared Industrial Land (ha) Total1 67.0 24.0 21.6 32.8 28.1

Lease 10.5 5.6 8.3 5.4 14.5

Tenancy 2.9 - 1.7 2.4 0.8

Licence 53.5 18.4 11.5 25.0 12.8 Note:



35

Table 4: Gross Allocation and Returns of Prepared Industrial Land by Industry (1Q 2016 – 1Q 2017)

Gross Allocation (ha) Returns (ha)

1Q 2016

2Q 2016

3Q 2016

4Q 2016

1Q 2017 1Q

2016 2Q

2016 3Q

2016 4Q

2016 1Q

2017 Total1 67.0 24.0 21.6 32.8 28.1 29.1 40.7 13.0 60.5 63.3 Manufacturing 18.6 6.0 8.7 15.0 14.1 8.7 13.9 3.0 26.7 26.7

Electronics - - - - - - - - - -

Precision Engineering 0.7 0.4 1.4 0.6 - 1.1 0.6 0.3 0.5 1.4

Chemicals 16.1 5.4 5.2 12.1 10.7 6.7 8.2 0.6 14.6 16.7

Biomedical Engineering - - - 0.4 - - 2.8 - 3.5 -

Transport Engineering 1.0 - 1.0 0.2 1.4 0.9 1.1 0.7 3.9 2.6 General Manufacturing Industries 0.7 0.1 1.1 1.8 2.0

- 1.2 1.4 4.3 6.0

Mfg Related & Supporting 48.4 18.0 12.9 17.8 14.0 20.4 26.8 10.1 33.8 36.7 Information & Communication 20.1 2.3 - - -

- - - 20.1 2.3

Professional, Scientific & Technical Activities 0.9 - - 1.2 2.8

- 3.3 - 1.5 -

Transportation & Storage 8.3 6.2 7.0 6.6 5.2 8.2 1.5 2.3 3.3 4.9

Water Supply, Sewerage & Waste Management - 2.2 1.1 1.3 - - - - - -

Construction 13.6 2.9 3.1 3.8 2.4

3.1 14.1 5.1 1.4 10.4

Real Estate/ Financial Activities/ Holding Companies

1.6 2.6 - 3.2 2.5

1.7 5.9 0.8 - 10.9

Other Services 3.8 1.9 1.7 1.7 1.1 7.3 1.9 1.8 7.4 8.1 Note:



36

Table 5: Gross Allocation and Returns of Ready-Built Facilities by Industry (1Q 2016 – 1Q 2017)

Gross Allocation (‘000 sqm) Returns (‘000 sqm)

1Q 2016

2Q 2016

3Q 2016

4Q 2016

1Q 2017 1Q

2016 2Q

2016 3Q

2016 4Q

2016 1Q

2017 Total 17.3 33.4 11.5 17.3 22.0 26.3 23.8 19.1 12.5 25.2 Manufacturing 5.5 5.7 3.7 7.1 10.6 4.4 13.3 12.1 4.4 13.3

Electronics 0.3 - - - 0.4 - - - - 4.1

Precision Engineering 4.4 4.1 3.0 0.2 3.9 3.3 5.9 3.3 3.0 7.9

Chemicals 0.2 - - 0.2 5.5 0.2 - - - -

Biomedical Engineering 0.2 1.3 0.7 0.7 0.3 - - - 1.1 0.2

Transport Engineering 0.2 0.1 - 5.4 0.4 - 4.1 4.1 - 0.1 General Manufacturing Industries 0.3 0.3 - 0.6 0.2

0.9 3.4 4.7 0.3 1.0

Mfg Related & Supporting 11.8 27.7 7.8 10.2 11.4 21.9 10.5 7.0 8.1 11.9 Information & Communication 1.5 0.5 2.9 5.5 1.5 1.2 0.7 1.2 2.2 1.2

Professional, Scientific & Technical Activities 4.9 19.9 0.8 1.1 2.4 15.2 0.7 0.3 1.0 2.4

Transportation & Storage 0.2 - - - 0.0 - 0.3 0.1 0.3 -

Water Supply, Sewerage & Waste Management - - - - - - 1.3 - - -

Construction - 0.2 - - 0.5 1.8 - 0.2 - 1.3 Real Estate/ Financial Activities/ Holding Companies

3.4 1.0 0.2 0.2 0.6 1.4 2.9 0.2 0.2 1.5

Other Services 1.7 6.1 4.0 3.4 6.4 2.3 4.6 5.2 4.4 5.4


37

Table 6: Total Allocated and Supply by Product Segment (Prepared Industrial Land) (1Q 2016 – 1Q 2017)

Total Allocated as at

1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017

Prepared Industrial Land (ha)

Total1 6,545.7 6,526.6 6,540.5 6,515.3 6,484.0

Generic Land 3,580.6 3,579.1 3,583.1 3,556.1 3,530.2

Tuas Biomedical Park 149.5 147.1 149.1 149.4 150.5

Jurong Island 1,772.1 1,759.0 1,768.5 1,766.2 1,759.6

Wafer Fab Park 116.8 116.8 116.8 116.8 116.8

Business Park 68.9 68.9 68.7 69.8 69.8

Logistics Park 147.5 147.5 147.5 147.5 147.5

Seletar Aerospace Park 50.2 50.2 50.2 50.3 50.3 Land for JTC’s Ready-Built Facilities (RBF) 660.2 658.1 656.6 659.2 659.3

Supply

1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017

Prepared Industrial Land (ha) Total1 7,394.2 7,394.9 7,415.4 7,396.9 7,421.9

Generic Land 3,970.9 3,968.4 3,984.1 3,972.3 3,980.3

Tuas Biomedical Park 215.6 215.6 215.6 211.9 212.9

Jurong Island 1,926.6 1,926.8 1,933.3 1,932.6 1,942.5

Wafer Fab Park 253.5 253.5 253.5 253.5 254.2

Business Park 94.9 94.9 94.9 94.9 97.1

Logistics Park 157.3 157.3 157.3 157.3 157.3

Seletar Aerospace Park 67.5 70.6 70.6 70.4 72.3 Land for JTC’s Ready-Built Facilities (RBF) 707.8 707.8 706.1 704.0 705.4

Note:

1. Total include 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.


38

Table 7: Total Allocated and Supply by Product Segment (Ready-Built Facilities) (1Q 2016 – 1Q 2017)

Total Allocated as at

1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017


Total 3,050.8 3,060.1 3,052.7 3,057.0 3,055.1 Flatted Factory Space 301.9 308.6 310.3 312.3 318.2

Business Park Space 268.0 283.2 283.2 282.9 282.2

Standard Factory Space 2,321.6 2,309.2 2,302.0 2,304.6 2,298.9

Workshop Space 159.3 159.1 157.2 157.3 155.8

Supply

1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017


Total 3,354.3 3,363.2 3,363.3 3,416.3 3,452.0

Flatted Factory Space 397.0 407.2 407.3 443.6 479.2


Standard Factory Space 2,479.4 2,478.1 2,478.1 2,494.7 2,494.7

Workshop Space 166.6 166.6 166.6 166.6 166.6 Table 8: Occupancy Rate of Ready-Built Facilities (1Q 2016 – 1Q 2017)

1Q 2016 2Q 2016 3Q 2016 4Q 2016 1Q 2017

Ready-Built Facilities (%)

Overall 91.0 91.0 90.8 89.5 88.5

Flatted Factory Space 76.1 75.8 76.2 70.4 66.4


Standard Factory Space 93.6 93.2 92.9 92.4 92.2

Workshop Space 95.6 95.5 94.3 94.4 93.5

Documents

QUARTERLY MARKET REPORT INDUSTRIAL …...MARKET REPORT FOR THE INDUSTRIAL PROPERTY MARKET (1Q 2017) EXECUTIVE SUMMARY 1. Prices and rentals of industrial space continued to fall in