QUARTERLY

MARKET REPORT
Industrial Properties

First Quarter 2022

SINGAPORE INDUSTRIAL PROPERTIES
As at First Quarter 2022

Stock & Occupancy

51.0 mil sqm

Available Stock

89.8%
Business Park Occupancy Rate
2.3
2.3 Multiple-User
Warehouse
Factory

11.3
11.3
11.8
11.8 0.4%-pt
Compared to Previous Qtr

25.6
25.6
Single-User
Factory 0.2%-pt
Compared to Previous Yr

*Figures in chart are in mil sqm

Rental Price

1.0%
Compared to
2.4%
Compared to
2.1%
Compared to
5.6%
Compared to
Previous Qtr Previous Yr Previous Qtr Previous Yr

Outlook on Upcoming Supply

Expected Completion
0.9 mil sqm 1.4 mil sqm
Multiple-User Single-User
2022 2.4 mil sqm Factory Factory

0.1 mil sqm 0.7 mil sqm

2023 0.8 mil sqm Business Park Warehouse
 EXECUTIVE SUMMARY
1. In 1Q 2022, overall occupancy rate for the industrial property market fell to 89.8%, a drop of 0.4
percentage points compared to the previous quarter, and 0.2 percentage points compared to the
previous year, due to new completions picking up significantly, and increase in supply exceeding new
demand. Total available stock rose by 333,000 sqm compared to the previous quarter, the highest
quarterly increase since 2019. In contrast, total occupied stock increased by 71,000 sqm in 1Q 2022
compared to the previous quarter.

2. Notwithstanding the drop in occupancy, prices and rentals have continued to rise. In 1Q 2022, price
and rental indices of all industrial space rose by 2.1% and 1.0% respectively as compared to the
previous quarter, and 5.6% and 2.4% respectively compared to the previous year.

3. As at end March 2022, around 2.4 million sqm of new industrial space is expected to be completed
in the next three quarters of 2022. Of the upcoming supply, single-user factory space makes up
about 46%, multiple-user factory space makes up 28%, while the remaining 25% comprises
warehouse and business park space.

4. Barring any sharp slowdown in the global economy, demand for industrial space in 2022 is still
expected to be robust. JTC will continue to monitor the market closely and support the needs of
industrialists.

Overview of Price, Rental and Occupancy Rate movements for 1Q 2022

% Change
4Q 2021 1Q 2022 Over Over
Previous Previous
Quarter Year
All Industrial 91.1 93.0 2.1 5.6

Price Multiple-User Factory 93.9 96.1 2.3 5.6

Single-User Factory 82.1 83.6 1.8 5.6
All Industrial 91.4 92.3 1.0 2.4
Multiple-User Factory 89.5 90.3 0.9 2.6

Rental Single-User Factory 97.1 97.4 0.3 1.8

Business Park 111.9 111.9 0.0 -0.3

Warehouse 86.0 87.3 1.5 3.8

All Industrial 90.2% 89.8% -0.4 -0.2
Multiple-User Factory 90.2% 88.8% -1.4 -0.2
Occupancy Single-User Factory 90.6% 90.4% -0.2 -0.5
Rate 1
Business Park 84.5% 85.6% 1.1 0.5
Warehouse 90.6% 90.3% -0.3 0.5

Note: 1 The % change refers to absolute change over previous year/quarter.

 STOCK & OCCUPANCY
As at the end of 1Q 2022, there was 51.0 million sqm of
industrial space. In 1Q 2022, overall occupancy rate for the
industrial property market fell to 89.8%, a drop of 0.4
51.0 mil sqm 89.8% percentage points compared to the previous quarter, and 0.2
Available Stock Occupancy Rate
percentage points compared to the previous year, due to new
Q-o-Q Y-o-Y completions picking up significantly, and increase in supply
0.4 0.2 exceeding new demand. Total available stock rose by 333,000
%-pt %-pt
sqm compared to the previous quarter, the highest quarterly
increase since 2019. In contrast, total occupied stock increased
Change in
by 71,000 sqm in 1Q 2022 compared to the previous quarter.
Stock Occupancy
(‘000 sqm) Rate (%)
800 92

600
90

400
88
200

86
0
2017Q1

2017Q3

2018Q1

2018Q3

2019Q1

2019Q3

2020Q1

2020Q3

2021Q1

2021Q3

2022Q1
-200 84

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

Multiple-User Factory Single-User Factory

11.8 mil sqm* 25.6 mil sqm*

88.8
89.8 90.2 90.9 90.9
89.7 90.7
89.0 90.6 90.4
117
88 85
122 106 63
91
67 11 23 17
28 2
-3
-33
2021Q1 2022Q1 2021Q1 2022Q1

Business Park Warehouse

2.3 mil sqm* 11.3 mil sqm*

90.6 90.6
90.2 90.3
89.8
85.1 85.6 134
84.8 84.3 84.5 99
69 60
61 51 48 36
34 22 40 25
10 0 7
-8 -12 -4
-22 -39
2021Q1 2022Q1 2021Q1 2022Q1

Change in Available Stock (‘000 sqm) Change in Occupied Stock (‘000 sqm) Occupancy Rate (%) * Available Stock

Note: The figures for industrial stock are in terms of net floor area.
RENTAL
Q-o-Q Y-o-Y Notwithstanding the drop in occupancy, rentals of industrial space
continued to rise. In 1Q 2022, the rental index of all industrial space
1.0% 2.4% rose by 1.0% compared to the previous quarter, and 2.4% compared to
the previous year.
Rental Index
(Private Industrial Space)
2012Q4=100

120

100
92.3
90.1 90.6 91.2 91.4

80

60
2017Q1 2018Q1 2019Q1 2020Q1 2021Q1 2022Q1

Multiple-User Factory Single-User Factory

Q-o-Q Y-o-Y Q-o-Q Y-o-Y

0.9% 2.6% 0.3% 1.8%

2021Q1 2021Q1

90.3 97.1 97.4

89.2 89.5 95.7 95.8 96.4
88.0 88.9

2022Q1 2022Q1

Business Park Warehouse

Q-o-Q Y-o-Y Q-o-Q Y-o-Y

0.3%
0.0% 1.5% 3.8%
2021Q1 2021Q1
87.3
112.2 112.2 112.5 85.7 86.0
111.9 111.9
84.1 84.3
2022Q1 2022Q1

Rental Index (Private Industrial Space)

PRICE
Q-o-Q Y-o-Y Prices of industrial space also continued to rise. In 1Q 2022, the price
index of all industrial space rose by 2.1% compared to the previous
quarter, and 5.6% compared to the previous year. Transaction volume of
2.1% 5.6% industrial properties, estimated based on caveats lodged for industrial
properties, also rose by 20% compared to the previous year.

Price Index
2012Q4=100
120

100
93.0
91.1
88.1 89.7 89.8

80

60
2017Q1 2018Q1 2019Q1 2020Q1 2021Q1 2022Q1

Number of
Caveats Lodged
411 432
400
358 367

305
300

200

100

0
2019Q1 2020Q1 2021Q1 2022Q1

Multiple-User Factory Single-User Factory

Q-o-Q Y-o-Y Q-o-Q Y-o-Y

2.3% 5.6% 1.8% 5.6%

2021Q1 2021Q1 83.6
96.1
93.9 82.1
92.6 92.6 80.7 80.9
91.0
79.2

2022Q1 2022Q1

Price Index
 INDUSTRIAL GOVERNMENT LAND SALES
In 1Q 2022, the tender for three Industrial Government Land Sales (IGLS) sites targeted for single-
user development closed. The site at Plot 9, Jalan Papan attracted one bid and was awarded.
Meanwhile, the sites at Plot 8, Jalan Papan and 11 Tuas Avenue 18 received one bid each, but was
not awarded as the bids were below the reserve price.

NOT AWARDED AWARDED

11 Tuas Avenue 18 Plot 9, Jalan Papan
• Land area of 0.40 ha • Land area of 1.01 ha
• Received 1 bid • Received 1 bid
• Awarded at $434 psm ppr

NOT AWARDED
Plot 8, Jalan Papan
• Land area of 0.90 ha
• Received 1 bid

An overview of the past successful tender prices for IGLS sites targeted for single-user developments is
shown below.

Successful Tender Price

($ psm ppr)
600
2020Q1 2020Q3 2020Q4 2021Q2 2021Q4 2022Q1

(2) (3) (3)

(4) (2) (1)
400 (1)

200

0
Feb Feb Jul Oct Jun Oct Jan
2020 2020 2020 2020 2021 2021 2022

Tuas Jalan Papan Gul Circle/Gul Avenue

Note:
1) Figures are shown by tender closing month. Number in bracket refers to the number of bids.
2) There was no successful tender in 2Q 2020, 1Q 2021 and 3Q 2021.
ALLOCATION OF JTC’S
READY-BUILT FACILITIES [RBF]
In 1Q 2022, JTC allocated a total of 91,800 sqm of RBF space to industrialists, which included
64,400 sqm of high-rise space and 20,300 sqm of land-based factory space.

Total RBF returns in 1Q 2022 was 120,600 sqm, of which 50,800 sqm was high-rise space and
64,500 sqm was land-based factory space. About 88% of the total returns were due to natural
expiries or companies consolidating their operations.

Gross Allocation Returns

(‘000 sqm) (‘000 sqm)
121.1 151.8 111.5 120.6
110 110

100 98.2 100

91.8
90 90 84.6
80 80 74.2
70 70
60.6
60 60 55.7
50 50
40 40
30 30
20 20
10 10
0 0
2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1

Among the high-rise space that was allocated, about 54% was in JTC’s newer developments which
include JTC Chemicals Hub @ Tuas South, JTC Space @ Tuas, trendspace, 1 and 7 North Coast, JTC
Food Hub @ Senoko, JTC Defu Industrial City and JTC Bedok Food City.

6
2 7

1 1. JTC Chemicals Hub @ Tuas South

2. JTC Space @ Tuas
3. trendspace
4. 1 and 7 North Coast
5. JTC Food Hub @ Senoko
6. JTC Defu Industrial City
7. JTC Bedok Food City

Note: Size of bubble denotes the amount of space allocated.

OUTLOOK ON UPCOMING SUPPLY

In the next three quarters of 2022, an estimated

New Supply (Historical and Upcoming) 2.4 million sqm of industrial space could be
(‘000 sqm)
completed based on approved plans as at end
2016 1,823 March 2022. About 46% of the supply is single-
2017 1,942 user factory space, typically developed by the
industrialists for their own use. Multiple-user
2018 545
factory supply constitutes another 28% of the
2019 865 supply, while warehouse and business park
2020 357 space makes up the remaining 25% of the
2021
supply.
669
2022 333 2,406
Between 2023 and 2025, an additional 2.0
2023 815 million sqm of industrial space is expected to be
2024 954 completed. This amounts to an average annual
supply of about 1.2 million sqm from now until
2025 252
end 2025. As a comparison, the average annual
> 2025 44 supply and demand of industrial space were
Historical Upcoming both around 0.6 million sqm over the past three
years.
Note: The figures for upcoming supply are in terms of
gross floor area, whereas historical changes in available
stock (measured by taking the annual net change of
available stock) are in terms of net floor area.

17

At the end of 1Q 2022, there were 253 units,

253 units
in uncompleted
totaling 65,000 sqm in uncompleted strata-
titled developments available for sale. Majority
of the units were in the North Region and about
strata-titled developments 53% of the units were at least 200 sqm in size.
available for sale
OUTLOOK ON UPCOMING SUPPLY

Multiple-User Factory Single-User Factory

1.1 mil sqm 2.1 mil sqm

2022 1,112
2022 684
513 520
2023 332
451 718
2023 218 2024 391
633 408
2025 183
2024 235
52 369
> 2025 39

Business Park Warehouse

0.5 mil sqm 0.8 mil sqm

2022 79 2022 531
2023 48
2023 216
2024 307
2024 21
2025 69

Upcoming Supply (‘000 sqm)

Note: The figures for upcoming supply are in terms of gross floor area.

NOTE:

1) Revisions were made to 2Q 2021 to 4Q 2021 stock and occupancy data in 1Q 2022.

2) The figures may not add up due to rounding.

3) Statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation.
From 2Q 2020, industrial premises were considered occupied even if on-site operations were halted due to official
restrictions.

4) Scan the QR code to visit J-SPACE for historical and more detailed statistics.
ANNEX –
Industrial Property Market Statistics

A1 Price Statistics 1

A2 Rental Statistics 5

A3 Stock and Vacancy Statistics 8

A4 Potential Supply Statistics 15

A5 Statistics on Industrial Units Available for Sale 17

A6 List of Major Industrial Projects Completed in 1Q 2022 18

A7 List of Major Industrial Projects in the Pipeline as at End of 1Q 2022 20

B Statistics on JTC's Prepared Industrial Land and Ready-Built Facilities 29

 Annex A – Industrial Property Market Statistics

Annex A-1: Price Statistics

Table 1: Quarterly Price Index of Industrial Space (1Q 2021 – 1Q 2022)

%
Change
Market Segment 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 Over
Previous
Quarter
All Industrial 88.1 89.7 89.8 91.1 93.0 2.1
Multiple-User
91.0 92.6 92.6 93.9 96.1 2.3
Factory
Planning Region
Central Region 96.3 97.9 98.1 99.5 100.0 0.5
North Region 79.8 81.0 80.9 82.9 85.4 3.0
West Region 76.1 77.6 77.9 78.9 82.1 4.1
Other Regions 84.5 86.3 86.0 86.0 88.6 3.0
Land-Use Zoning
Business 1 91.9 93.3 93.4 95.2 97.0 1.9
Business 2 76.5 78.2 78.1 78.4 80.7 2.9
Remaining Tenure
< 30 Years 83.4 85.3 84.6 85.4 87.5 2.5
31 – 60 Years 81.3 82.8 83.0 84.9 86.8 2.2
> 60 Years 96.3 97.6 97.7 97.8 99.9 2.1
Single-User Factory 79.2 80.7 80.9 82.1 83.6 1.8

Note:
1. The price index is computed using fixed weights based on 2018 transaction values before 1Q 2022. From 1Q 2022, the weights used are
fixed using 2021 transaction values.

1
Table 2: Quarterly Price Index of Industrial Space (2Q 2019 – 1Q 2022)

Price Index
Period
All Industrial Multiple-User Factory Single-User Factory
2Q 2019 89.8 93.4 79.7
3Q 2019 89.9 93.4 79.9
4Q 2019 89.7 93.2 79.8
1Q 2020 89.3 92.6 79.7
2Q 2020 88.3 91.2 79.2
3Q 2020 86.4 89.2 77.7
4Q 2020 87.3 90.2 78.3
1Q 2021 88.1 91.0 79.2
2Q 2021 89.7 92.6 80.7
3Q 2021 89.8 92.6 80.9
4Q 2021 91.1 93.9 82.1
1Q 2022 93.0 96.1 83.6

Note:
1. The price index is computed using fixed weights based on 2018 transaction values before 1Q 2022. From 1Q 2022, the weights used are
fixed using 2021 transaction values.

2
Table 3: Quarterly Price Index of Multiple-User Factory by Planning Region
(2Q 2019 – 1Q 2022)

Price Index of Multiple-User Factory

Period
Central Region North Region West Region Other Regions
2Q 2019 97.4 81.8 83.0 86.1
3Q 2019 97.9 81.4 83.3 85.0
4Q 2019 97.2 82.4 82.9 84.5
1Q 2020 97.1 81.0 82.9 83.3
2Q 2020 96.9 78.2 79.6 83.0
3Q 2020 94.1 77.2 76.4 83.3
4Q 2020 95.2 78.6 76.4 84.0
1Q 2021 96.3 79.8 76.1 84.5
2Q 2021 97.9 81.0 77.6 86.3
3Q 2021 98.1 80.9 77.9 86.0
4Q 2021 99.5 82.9 78.9 86.0
1Q 2022 100.0 85.4 82.1 88.6

Note:
1. The price index is computed using fixed weights based on 2018 transaction values before 1Q 2022. From 1Q 2022, the weights used are
fixed using 2021 transaction values.

3
Table 4: Quarterly Price Index of Multiple-User Factory by Remaining Tenure and
Land-Use Zoning (2Q 2019 – 1Q 2022)

Price Index of Multiple-User Factory

Period Remaining Tenure Land-Use Zoning

31 – 60
≤ 30 Years > 60 Years Business 1 Business 2
Years
2Q 2019 87.1 83.2 98.6 94.0 79.3
3Q 2019 85.8 83.3 99.3 94.4 78.5
4Q 2019 85.5 82.9 99.4 94.0 78.6
1Q 2020 85.6 82.4 98.4 93.7 77.3
2Q 2020 84.6 80.3 98.8 92.2 76.7
3Q 2020 80.7 79.6 95.5 89.8 75.8
4Q 2020 82.8 80.5 95.7 90.9 76.2
1Q 2021 83.4 81.3 96.3 91.9 76.5
2Q 2021 85.3 82.8 97.6 93.3 78.2
3Q 2021 84.6 83.0 97.7 93.4 78.1
4Q 2021 85.4 84.9 97.8 95.2 78.4
1Q 2022 87.5 86.8 99.9 97.0 80.7

Note:
1. The price index is computed using fixed weights based on 2018 transaction values before 1Q 2022. From 1Q 2022, the weights used are
fixed using 2021 transaction values.

4
Annex A-2: Rental Statistics

Table 5: Quarterly Rental Index of Industrial Space (1Q 2021 – 1Q 2022)

%
Change
Market Segment 1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022 Over
Previous
Quarter
All Industrial 90.1 90.6 91.2 91.4 92.3 1.0
Multiple-User
88.0 88.9 89.2 89.5 90.3 0.9
Factory
Planning Region
Central Region 89.8 90.7 90.9 91.1 92.1 1.1
North Region 93.8 93.8 94.3 94.9 96.6 1.8
West Region 76.0 77.1 77.5 77.8 78.3 0.6
East Region 89.0 90.2 90.1 90.8 91.2 0.4
Northeast Region 80.6 81.4 81.6 81.7 83.0 1.6
Land-Use Zoning
Business 1 89.0 89.9 90.2 90.4 92.2 2.0
Business 2 81.2 81.9 82.2 82.6 82.8 0.2
Single-User Factory 95.7 95.8 96.4 97.1 97.4 0.3
Business Park 112.2 112.2 112.5 111.9 111.9 0.0
Warehouse 84.1 84.3 85.7 86.0 87.3 1.5

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. The rental index is computed using fixed weights based on 2018 transaction values before 1Q 2022. From 1Q 2022, the weights used are
fixed using 2021 transaction values.

5
Table 6: Quarterly Rental Index of Industrial Space (2Q 2019 – 1Q 2022)

Rental Index

Period All Multiple-User Single-User Business

Warehouse
Industrial Factory Factory Park

2Q 2019 91.0 89.0 96.3 113.1 84.9

3Q 2019 91.0 89.0 96.8 113.2 84.7
4Q 2019 91.0 88.9 96.9 113.3 84.8
1Q 2020 90.9 88.5 96.7 113.3 85.0
2Q 2020 90.3 88.1 95.7 113.1 84.4
3Q 2020 89.5 87.1 95.0 112.0 83.5
4Q 2020 89.6 87.3 95.5 112.1 83.7
1Q 2021 90.1 88.0 95.7 112.2 84.1
2Q 2021 90.6 88.9 95.8 112.2 84.3
3Q 2021 91.2 89.2 96.4 112.5 85.7
4Q 2021 91.4 89.5 97.1 111.9 86.0
1Q 2022 92.3 90.3 97.4 111.9 87.3

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 2018 transaction values before 1Q 2022. From 1Q 2022, the weights used are
fixed using 2021 transaction values.

6
Table 7: Quarterly Rental Index of Multiple-User Factory by Planning Region and
Land-Use Zoning (2Q 2019 – 1Q 2022)

Rental Index of Multiple-User Factory

Period Planning Region Land-Use Zoning

Central North West East Northeast Business Business
Region Region Region Region Region 1 2
2Q 2019 90.3 94.4 77.5 90.4 83.0 89.9 82.3
3Q 2019 90.3 93.8 77.7 91.0 82.3 89.9 82.2
4Q 2019 90.3 94.0 77.3 91.0 82.3 89.8 82.2
1Q 2020 89.9 93.7 76.7 91.0 81.9 89.4 81.9
2Q 2020 89.8 93.0 76.3 89.1 81.5 89.2 80.8
3Q 2020 88.9 92.3 75.3 87.9 80.5 88.2 80.0
4Q 2020 89.2 92.7 75.3 88.0 80.5 88.4 80.3
1Q 2021 89.8 93.8 76.0 89.0 80.6 89.0 81.2
2Q 2021 90.7 93.8 77.1 90.2 81.4 89.9 81.9
3Q 2021 90.9 94.3 77.5 90.1 81.6 90.2 82.2
4Q 2021 91.1 94.9 77.8 90.8 81.7 90.4 82.6
1Q 2022 92.1 96.6 78.3 91.2 83.0 92.2 82.8

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 2018 transaction values before 1Q 2022. From 1Q 2022, the weights used are
fixed using 2021 transaction values.

7
Annex A-3: Stock and Vacancy Statistics

Table 8: Stock and Vacancy Rate of Industrial Space (4Q 2021 – 1Q 2022)

Over Previous
As at As at
Quarter
Property Type Market Indicator 4Q 1Q
Absolute %
2021 2022
Change Change
Available (‘000 sq m) 50,659 50,992 333 0.7
Occupied (‘000 sq m) 45,705 45,776 71 0.2
All Industrial Space
Vacant (‘000 sq m) 4,954 5,216 262 5.3
Vacancy Rate (%) 9.8 10.2 0.4 -
Available (‘000 sq m) 11,542 11,793 251 2.2
Multiple-User Occupied (‘000 sq m) 10,411 10,478 67 0.6
Factory Vacant (‘000 sq m) 1,131 1,315 184 16.3
Vacancy Rate (%) 9.8 11.2 1.4 -
Available (‘000 sq m) 25,544 25,629 85 0.3
Single-User Occupied (‘000 sq m) 23,139 23,156 17 0.1
Factory Vacant (‘000 sq m) 2,405 2,473 68 2.8
Vacancy Rate (%) 9.4 9.6 0.2 -
Available (‘000 sq m) 2,280 2,280 0 0.0
Occupied (‘000 sq m) 1,927 1,952 25 1.3
Business Park
Vacant (‘000 sq m) 352 328 -24 -6.8
Vacancy Rate (%) 15.5 14.4 -1.1 -
Available (‘000 sq m) 11,294 11,290 -4 0.0
Warehouse Occupied (‘000 sq m) 10,229 10,190 -39 -0.4
Space Vacant (‘000 sq m) 1,065 1,100 35 3.3
Vacancy Rate (%) 9.4 9.7 0.3 -

Note:
1. The figures may not add up due to rounding.
2. Vacancy rate is calculated by taking the ratio of the exact vacant and available floor area. It may not be the same as the ratio of the rounded
vacant and available floor area.
3. The statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020,
industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

8
Table 9: Stock and Vacancy Rate of All Industrial Space (2Q 2019 – 1Q 2022)

Stock (‘000 sq m) Vacancy Rate

Period
Available Occupied Vacant (%)

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

3Q 2019 49,631 44,324 5,306 10.7
4Q 2019 49,633 44,288 5,346 10.8
1Q 2020 49,832 44,431 5,401 10.8
2Q 2020 49,930 44,639 5,291 10.6
3Q 2020 49,952 44,747 5,205 10.4
4Q 2020 49,990 44,962 5,028 10.1
1Q 2021 50,116 45,101 5,015 10.0
2Q 2021 50,420 45,467 4,954 9.8
3Q 2021 50,648 45,687 4,961 9.8
4Q 2021 50,659 45,705 4,954 9.8
1Q 2022 50,992 45,776 5,216 10.2

Note:
1. The figures may not add up due to rounding.
2. Vacancy rate is calculated by taking the ratio of the exact vacant and available floor area. It may not be the same as the ratio of the rounded
vacant and available floor area.
3. The statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020,
industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

9
Table 10: Stock and Vacancy Rate of Multiple-User Factory Space
(2Q 2019 – 1Q 2022)

Stock (‘000 sq m) Vacancy Rate

Period
Available Occupied Vacant (%)

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

3Q 2019 11,363 9,894 1,469 12.9
4Q 2019 11,310 9,898 1,413 12.5
1Q 2020 11,328 9,963 1,365 12.1
2Q 2020 11,383 9,964 1,419 12.5
3Q 2020 11,387 9,993 1,394 12.2
4Q 2020 11,370 10,064 1,306 11.5
1Q 2021 11,407 10,155 1,251 11.0
2Q 2021 11,460 10,277 1,184 10.3
3Q 2021 11,558 10,383 1,176 10.2
4Q 2021 11,542 10,411 1,131 9.8
1Q 2022 11,793 10,478 1,315 11.2

Note:
1. The figures may not add up due to rounding.
2. Vacancy rate is calculated by taking the ratio of the exact vacant and available floor area. It may not be the same as the ratio of the rounded
vacant and available floor area.
3. The statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020,
industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

10
Table 11: Stock and Vacancy Rate of Single-User Factory Space
(2Q 2019 – 1Q 2022)

Stock (‘000 sq m) Vacancy Rate

Period
Available Occupied Vacant (%)

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

3Q 2019 25,104 22,878 2,226 8.9
4Q 2019 25,142 22,833 2,309 9.2
1Q 2020 25,277 22,931 2,346 9.3
2Q 2020 25,295 23,037 2,258 8.9
3Q 2020 25,303 23,023 2,280 9.0
4Q 2020 25,351 23,064 2,287 9.0
1Q 2021 25,362 23,061 2,301 9.1
2Q 2021 25,479 23,149 2,330 9.1
3Q 2021 25,542 23,172 2,369 9.3
4Q 2021 25,544 23,139 2,405 9.4
1Q 2022 25,629 23,156 2,473 9.6

Note:
1. The figures may not add up due to rounding.
2. Vacancy rate is calculated by taking the ratio of the exact vacant and available floor area. It may not be the same as the ratio of the rounded
vacant and available floor area.
3. The statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020,
industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

11
Table 12: Stock and Vacancy Rate of Business Park Space (2Q 2019 – 1Q 2022)

Stock (‘000 sq m) Vacancy Rate

Period
Available Occupied Vacant (%)

2Q 2019 2,200 1,892 308 14.0

3Q 2019 2,200 1,896 303 13.8
4Q 2019 2,199 1,897 303 13.8
1Q 2020 2,197 1,889 308 14.0
2Q 2020 2,195 1,870 324 14.8
3Q 2020 2,198 1,877 322 14.6
4Q 2020 2,197 1,885 313 14.2
1Q 2021 2,207 1,877 330 14.9
2Q 2021 2,241 1,899 342 15.2
3Q 2021 2,302 1,939 362 15.7
4Q 2021 2,280 1,927 352 15.5
1Q 2022 2,280 1,952 328 14.4

Note:
1. The figures may not add up due to rounding.
2. Vacancy rate is calculated by taking the ratio of the exact vacant and available floor area. It may not be the same as the ratio of the rounded
vacant and available floor area.
3. The statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020,
industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

12
Table 13: Stock and Vacancy Rate of Warehouse Space (2Q 2019 – 1Q 2022)

Stock (‘000 sq m) Vacancy Rate

Period
Available Occupied Vacant (%)

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

3Q 2019 10,963 9,656 1,307 11.9
4Q 2019 10,981 9,660 1,321 12.0
1Q 2020 11,030 9,649 1,381 12.5
2Q 2020 11,057 9,767 1,289 11.7
3Q 2020 11,064 9,855 1,209 10.9
4Q 2020 11,071 9,948 1,123 10.1
1Q 2021 11,140 10,008 1,133 10.2
2Q 2021 11,239 10,142 1,098 9.8
3Q 2021 11,246 10,193 1,054 9.4
4Q 2021 11,294 10,229 1,065 9.4
1Q 2022 11,290 10,190 1,100 9.7

Note:
1. The figures may not add up due to rounding.
2. Vacancy rate is calculated by taking the ratio of the exact vacant and available floor area. It may not be the same as the ratio of the rounded
vacant and available floor area.
3. The statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020,
industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

13
Table 14: Available Stock and Occupancy Rate of Newly Completed Private
Multiple-User Factory Space (2Q 2019 – 1Q 2022)

Year of Completion

Period 2019 2020 2021 2022 2019 2020 2021 2022

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

2Q 2019 57 - - - 8.3 - - -
3Q 2019 61 - - - 11.0 - - -
4Q 2019 61 - - - 11.0 - - -
1Q 2020 61 27 - - 12.3 0.0 - -
2Q 2020 61 29 - - 48.0 12.3 - -
3Q 2020 61 35 - - 51.0 14.6 - -
4Q 2020 61 35 - - 55.7 26.2 - -
1Q 2021 61 44 26 - 52.2 44.4 53.3 -
2Q 2021 61 44 77 - 54.9 56.6 19.7 -
3Q 2021 61 44 119 - 59.1 62.7 23.2 -
4Q 2021 61 44 119 - 62.1 63.1 30.7 -
1Q 2022 61 44 119 44 62.1 63.1 43.6 5.9

Note:
1. The available space refers to the total amount of net 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.
2. The statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020,
industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

Table 15: Available Stock of Industrial Space by Type of Industrial Space and
Land-Use Zoning as at End of 1Q 2022

‘000 sq m net
Land-Use Zoning
Industrial Space Total Floor Area
Business 1 Business 2
All Industrial Space 50,992 11,341 37,371
Multiple-User Factory 11,793 6,467 5,326

Single-User Factory 25,629 2,982 22,647

Business Park 2,280 - -

Warehouse Space 11,290 1,892 9,398

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

14
Annex A-4: Potential Supply Statistics

Table 16: Supply of Industrial Space by Property Type, Development Status and
Expected Year of Completion as at End of 1Q 2022

‘000 sq m gross
All Industrial Space Total 2022 2023 2024 2025 2026 >2026
Total 4,471 2,406 815 954 252 44 -
Under Construction 3,302 1,973 483 722 125 - -
Planned 1,169 433 332 232 127 44 -
Written Permission 887 378 230 177 92 10 -
Provisional Permission 174 55 89 30 - - -
Others 107 - 13 25 34 35 -
Multiple-User Factory 1,141 684 218 235 - 5 -
Under Construction 1,032 635 187 210 - - -
Planned 109 48 32 25 - 5 -
Written Permission 48 40 4 - - 5 -
Provisional Permission 61 9 28 25 - - -
Others - - - - - - -
Single-User Factory 2,057 1,112 332 391 183 39 -
Under Construction 1,307 813 164 205 125 - -
Planned 750 299 168 186 58 39 -
Written Permission 565 278 101 158 23 5 -
Provisional Permission 78 21 54 3 - - -
Others 107 - 13 25 34 35 -
Business Park 503 79 48 307 69 - -
Under Construction 434 79 48 307 - - -
Planned 69 0 - - 69 - -
Written Permission 69 0 - - 69 - -
Provisional Permission - - - - - - -
Others - - - - - - -
Warehouse 769 531 216 21 - - -
Under Construction 530 446 84 - - - -
Planned 239 86 132 21 - - -
Written Permission 204 60 125 19 - - -
Provisional Permission 35 25 8 2 - - -
Others - - - - - - -

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

15
Table 17: Supply of Industrial Space by Property Type, Usage and Expected Year of
Completion as at End of 1Q 2022

‘000 sq m gross
All Industrial Space Total 2022 2023 2024 2025 2026 >2026
Total 4,471 2,406 815 954 252 44 -
Business 1 166 120 21 25 - - -
Business 2 3,802 2,207 745 623 183 44 -
Business Park 503 79 48 307 69 - -
Multiple-User Factory 1,141 684 218 235 - 5 -
Business 1 102 63 16 23 - - -
Business 2 1,039 620 202 212 - 5 -
Single-User Factory 2,057 1,112 332 391 183 39 -
Business 1 52 46 5 - - - -
Business 2 2,006 1,065 327 391 183 39 -
Business Park 503 79 48 307 69 - -
Warehouse Space 769 531 216 21 - - -
Business 1 12 10 - 2 - - -
Business 2 757 521 216 19 - - -

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

16
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 2022

Units Available
Floor Area (sq m) Total % Sold
for Sale
Total 679 253 63
< 200 sqm 343 120 65
200 – 299 sqm 134 29 78
≥ 300 sqm 202 104 49

Table 19: Industrial Units Available for Sale in Uncompleted Strata-Titled

Developments by Planning Region as at End of 1Q 2022

Units Available
Planning Region Total % Sold
for Sale
Total 679 253 63
North 458 223 51
Others 221 30 86

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.

17
Annex A-6: List of Major Industrial Projects Completed in 1Q 2022

Gross Floor
Project Gross
Description and Location of Area Granted
Name of Developer Floor Area
Project TOP in the
(sq m)
Quarter (sq m)
MULTIPLE-USER FACTORY PROJECT
Public Sector
JTC Defu Industrial City at 2, 4, 6, 8 259,000
JTC Corporation 326,520
Defu South Street 1 (259,200)

Sub-Total 326,520 259,000

MULTIPLE-USER FACTORY PROJECT

Private Sector

REVV at 1 Corporation Drive SB (Yung Ho) Investment Pte. Ltd. 32,000 32,000

Ubix at 25 Ubi Road 4 Ascendas REIT 17,100 17,100

Sub-Total 49,100 49,100

Total 375,620 308,100

SINGLE-USER FACTORY PROJECT

Public Sector
JTC aeroSpaceThree at 7, 7A to 7F, 9, 6,070
JTC Corporation 15,520
9A Seletar Aerospace Link (15,520)

Sub-Total 15,520 6,070

SINGLE-USER FACTORY PROJECT

Private Sector

Single-user factory at 2 Kranji Crescent Lian Hup Brothers Pte Ltd 13,490 13,490

Single-user factory at 12 Tuas South

Hiap Shing Construction Pte Ltd 3,600 3,600
Link 2
Single-user factory at 4 Tuas South
Bonco Enterprise Pte Ltd 4,990 4,990
Link 3
Single-user factory at 31 Woodlands
Microsoft Operations Pte Ltd 32,530 32,530
Industrial Park E9
Single-user industrial development at 35,670
Shimano Singapore Pte Ltd 42,450
11 Bulim Walk (42,450)
Single-user industrial development at 1 4,940
Avance Living Pte Ltd 7,310
Tuas Basin Link (7,310)

Sub-Total 104,370 95,220

Total 119,890 101,290

18
 Gross Floor
Project Gross
Description and Location of Area Granted
Name of Developer Floor Area
Project TOP in the
(sq m)
Quarter (sq m)
WAREHOUSE PROJECT
Private Sector
Single-user industrial development at 6,770
Shimano Singapore Pte Ltd 42,450
11 Bulim Walk (42,450)
Single-user industrial development at 1 2,370
Avance Living Pte Ltd 7,310
Tuas Basin Link (7,310)
Star International at 21 Sungei Kadut
Star Furniture Pte Ltd 19,050 19,050
Street 2

Sub-Total 68,810 28,190

Total 68,810 28,190

Note:
1. Includes (i) all new erection, and (ii) extension and additions/alterations projects if the Gross Floor Area (GFA) of the full or partial completion
is 7,000 sqm and above.
2. From 4Q 2018 onwards, it will also include partial completion of extension and additions/alterations projects if the project’s overall pipeline
GFA is 7,000 sqm and above.
3. Completed projects will not be published in the listing if overall pipeline GFA of the extension and additions/alterations projects fall below
7,000 sqm.
4. Figures in parentheses refer to the total Gross Floor Area (GFA) granted TOP for the development to date.

19
Annex A-7: List of Major Industrial Projects in the Pipeline as at End of 1Q 2022

Gross Floor Expected

Description and Location of Project Name of Developer Area Year of
(sq m) Final TOP

MULTIPLE-USER FACTORY PROJECT

Public Sector

Bulim Square at Bulim Lane 1/2 JTC Corporation 157,550 2024

JTC Defu Industrial City at Defu South Street 1 JTC Corporation 67,290 2022

JTC Space @ AMK at Ang Mo Kio Street 64/65 JTC Corporation 116,630 2023

Kranji Green at Kranji Loop JTC Corporation 133,040 2022

Multiple-user factory at Tuas Western Coast JTC Corporation 1,980 2022

TimMac @ Kranji at Kranji Loop/Kranji Road JTC Corporation 143,370 2022

Sub-Total 619,860

MULTIPLE-USER FACTORY PROJECT

Private Sector
Additions/alterations to existing factory at Ang
7000 AMK LLP 24,690 2023
Mo Kio Avenue 5
Additions/alterations to existing factory at
Wujie Times Square Pte Ltd 9,130 na
Macpherson Road

Apex Foodworks at Kim Chuan Terrace KC Industries Pte Ltd 4,760 na

Ascent @ Gambas at Gambas Way SB (Gambas) Investment Pte Ltd 29,900 2023

Citrine Foodland @ 33 Kim Chuan at Kim Chuan

Goodland Citrine Pte Ltd 3,540 na
Drive

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

Foodfab@Mandai at Mandai Estate Mandai 7 JV Pte Ltd 9,570 2023

IN SPACE at New Industrial Road SLB-Oxley (NIR) Pte Ltd 14,480 na

Ispring at New Industrial Road SB (29NIR) Investment Pte Ltd 9,710 2022

Multiple-user factory at Aljunied Road Asia Headquarters Pte Ltd 1,400 2022

Multiple-user factory at Genting Road D Investments Pte Ltd 2,450 na

Multiple-user factory at Jalan Mesin Queensgate Realty Pte Ltd 1,970 na

Multiple-user factory at Kallang Way Mapletree Industrial Trust 80,420 2022

Multiple-user factory at Kampong Ampat Woodlands Smartisan Pte Ltd 15,540 2024

20
 Gross Floor Expected
Description and Location of Project Name of Developer Area Year of
(sq m) Final TOP

MULTIPLE-USER FACTORY PROJECT

Private Sector

Multiple-user factory at Kim Chuan Drive IKI Shop Pte Ltd 1,990 na

Multiple-user factory at Kim Chuan Drive Kims Land Pte Ltd 7,690 na

Multiple-user factory at Kim Chuan Lane Ember Properties Pte Ltd 2,440 na

AirTrunk Singapore Holding Pte

Multiple-user factory at Loyang Drive 22,230 na
Ltd

Multiple-user factory at Mandai Estate Chip Tiong Investment Pte Ltd 18,390 na

Multiple-user factory at New Industrial Road TAS Services Pte Ltd 7,020 na

Multiple-user factory at Playfair Road AC Hesed Development Pte Ltd 1,690 2023

Multiple-user factory at Playfair Road Lian Beng Investment Pte Ltd 1,680 na

Multiple-user factory at Playfair Road LWH Playfair Pte Ltd 2,330 na

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

Multiple-user factory at Tagore Industrial

TCSP Pte Ltd 4,090 na
Avenue

Multiple-user factory at Tannery Lane <<Individual>> 2,180 na

Multiple-user industrial development at Genting

Metal House Investment Pte Ltd 5,590 na
Lane
Soon Hock Investment Group
Polaris @ Woodlands at Woodlands Avenue 12 52,340 na
Pte Ltd

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

Space 21 at Lorong 21 Geylang JVA Katong Pte Ltd 3,560 2022

Trion at Kallang Junction SB (17KJ) Investment Pte Ltd 12,040 na

RBC Investor Services Trust

Tuas Vista at Tuas South Avenue 2 31,060 na
Singapore Ltd

Sub-Total 512,100

Total 1,131,960

21
 Gross Floor Expected
Description and Location of Project Name of Developer Area Year of
(sq m) Final TOP
SINGLE-USER FACTORY PROJECT
Public Sector
JTC semiconSpace @ Tampines at Tampines
JTC Corporation 11,280 2022
Industrial Crescent

Sub-Total 11,280

SINGLE-USER FACTORY PROJECT

Private Sector
Additions/alterations to existing factory at Singapore Technologies
70 2022
Jurong East Street 21 Electronics Limited
Additions/alterations to existing factory at
ExxonMobil Asia Pacific Pte Ltd 19,230 na
Jurong Island Highway
Additions/alterations to existing factory at North Micron Semiconductor Asia
34,130 2022
Coast Drive Operations Pte Ltd
Additions/alterations to existing factory at North Micron Semiconductor Asia
48,960 na
Coast Drive Operations Pte Ltd
Additions/alterations to existing factory at RBC Investor Services Trust
12,570 na
Senoko Loop Singapore Ltd
Additions/alterations to existing factory at
Coim Asia Pacific Pte Ltd 13,290 na
Seraya Place
Additions/alterations to existing factory at Tuas Pfizer Asia Manufacturing Pte
44,500 na
South Avenue 6 Ltd
Additions/alterations to existing factory at Tuas
Neste Singapore Pte Ltd 31,400 na
South Lane
Additions/alterations to existing industrial
WCA Pte Ltd 22,480 2023
development at Jalan Ahmad Ibrahim
Additions/alterations to existing industrial
ExxonMobil Asia Pacific Pte Ltd 11,670 na
development at Pioneer Road
Additions/alterations to existing industrial
Jurong Shipyard Pte Ltd 27,150 na
development at Tuas South Boulevard

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

Logos Penjuru Logistics Centre at Tanjong

2TPC Pte Ltd 11,780 na
Penjuru Crescent
China Jingye Construction
MCC Innocentre at Jalan Papan 9,240 na
Engineering (S) Pte Ltd

Minwu Industrial Building at Genting Lane Spireworks 1 Pte Ltd 1,510 na

Paradise Group HQ at Defu Lane 10 Paradise Group Holdings Pte Ltd 9,690 na

Singapore Gems Building at Kung Chong Road Regal Haus Pte Ltd 1,310 na

Octava (S) Property Investments

Single-user factory at Alexandra Terrace 3,120 na
Pte Ltd

Single-user factory at Ayer Merbau Road Baker Hughes Services Pte Ltd 4,140 na

22
 Gross Floor Expected
Description and Location of Project Name of Developer Area Year of
(sq m) Final TOP

SINGLE-USER FACTORY PROJECT

Private Sector

Single-user factory at Benoi Road JP Nelson Equipment Pte Ltd 13,680 na

Single-user factory at Chin Bee Road Lim Traders Pte. Ltd. 6,270 na

Single-user factory at Chin Bee Road Omni Aquatic Supplies Pte Ltd 10,130 na

Single-user factory at Defu Lane 10 STT Defu 3 Pte Ltd 14,470 2022

Single-user factory at Genting Lane Memphis 1 Pte Ltd 44,280 na

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

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

Single-user factory at Jurong Port Road Island Concrete (Private) Limited 5,000 na

Single-user factory at Jurong Port Road Sinmix Pte Ltd 3,570 na

Single-user factory at Jurong Port Road Star Ready-Mix Pte Ltd 3,860 na

Single-user factory at Jurong Port Road YTL Concrete (S) Pte Ltd 1,170 na

Hyundai Motor Singapore Pte

Single-user factory at Jurong West Avenue 2 86,900 na
Ltd

Single-user factory at Kampong Ampat Naili Print Media Pte Ltd 1,110 2022

Equatorial Marine Fuel

Single-user factory at Kim Chuan Drive 3,320 na
Management Services Pte Ltd

Single-user factory at Kim Chuan Terrace First Capital Pte Ltd 1,400 na

Single-user factory at Kranji Crescent Kiat Lee Machinery Pte Ltd 13,920 na

Single-user factory at Kranji Way Huationg Holdings Pte Ltd 6,340 2022

Single-user factory at Kung Chong Road/Chang

Stuttgart Auto Pte Ltd 8,800 na
Charn Road

Single-user factory at Lok Yang Way Google Asia Pacific Pte Ltd 75,690 2024

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

Amazon Asia-Pacific Resource

Single-user factory at Loyang Drive 23,790 na
Pte Ltd

Single-user factory at Pandan Road 54 Pandan Road Pte Ltd 12,300 na

Single-user factory at Pioneer Sector Lane OKH Holdings Pte Ltd 12,550 2022

23
 Gross Floor Expected
Description and Location of Project Name of Developer Area Year of
(sq m) Final TOP

SINGLE-USER FACTORY PROJECT

Private Sector

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

Single-user factory at Seletar North Link HL-Sunway JV Pte Ltd 65,320 2022

Export House Lightings (1978)

Single-user factory at Senang Crescent 620 2022
Pte Ltd

Single-user factory at Senang Crescent PT-G Builders Pte Ltd 650 na

Yung Tat Lee Engineering Pte

Single-user factory at Senang Crescent 650 2023
Ltd
Lian Beng Engineering &
Single-user factory at Senoko Drive 5,570 na
Machinery Pte Ltd

Single-user factory at Senoko Way Fuji Bridex Pte Ltd 7,850 na

Single-user factory at Senoko Way Pollisum Engineering Pte Ltd 5,000 na

Amazon Asia-Pacific Resource

Single-user factory at Sunview Drive 20,690 na
Pte Ltd

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

Single-user factory at Tagore Lane Chip Lee Jewellery Pte Ltd 970 na

Single-user factory at Tagore Lane Chuing Xin Enginerring Pte Ltd 1,010 na

Single-user factory at Tagore Lane Dong Jian (Singapore) Pte Ltd 2,540 na

Single-user factory at Tagore Lane Packagers Pte Ltd 810 na

Quek & Quek Civil Engineering

Single-user factory at Tagore Lane 940 na
Pte Ltd

Single-user factory at Tannery Lane Jincai Holdings Pte Ltd 1,820 na

Single-user factory at Tuas Avenue 12 Opto-Pharm Pte Ltd 6,910 na

Single-user factory at Tuas Avenue 13 AST Group Pte Ltd 7,100 2022

Single-user factory at Tuas Avenue 13 World Metal Group Pte Ltd 5,670 2022

Single-user factory at Tuas Avenue 18A Progressive Builders Pte Ltd 2,820 na

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

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

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

24
 Gross Floor Expected
Description and Location of Project Name of Developer Area Year of
(sq m) Final TOP

SINGLE-USER FACTORY PROJECT

Private Sector

Single-user factory at Tuas South Avenue 2 ST Engineering Marine Ltd 21,540 na

Single-user factory at Tuas South Link 2 Zhao Yang Geotechnic Pte Ltd 4,280 2023

Asia Metal Engineering &

Single-user factory at Tuas South Link 3 3,910 na
Trading Pte Ltd
G.T.H. Engineering &
Single-user factory at Tuas South Link 3 6,570 2022
Construction Pte Ltd

Single-user factory at Tuas South Link 3 Goh Sin Guan Huat Pte Ltd 3,570 2023

Single-user factory at Tuas South Street 2 Sanofi Manufacturing Pte Ltd 35,290 na

Single-user factory at Tuas South Street 15 Wah & Hua Pte Ltd 10,580 na

Single-user factory at Tuas South Walk Catermas Engineering Pte Ltd 5,860 na

Singapore Salvage Engineers Pte

Single-user factory at Tuas South Walk 3,290 na
Ltd

Single-user factory at Tuas South Walk YTC Shipyard Pte.Ltd 2,820 na

Single-user factory at Tuas West Avenue Progressive Builders Pte Ltd 8,910 na

Single-user factory at Woodlands Industrial Global Foundries Singapore Pte

125,200 na
Park D Street 2 Ltd

Single-user factory at Woodlands Industrial Whye Wah Development &

12,350 2023
Park E2 Construction Pte Ltd

Single-user factory at Woodlands Terrace F & G Food Pte Ltd 3,210 na

Single-user factory at Woodlands Terrace Hiao Giap Holdings Pte Ltd 3,090 na

Single-user industrial development at Aljunied

Exeo Global Pte Ltd 8,070 2022
Avenue 3
Single-user industrial development at Banyan
Arkema Pte Ltd 17,860 na
Avenue
Single-user industrial development at Chin Bee
OJJ Foods Pte Ltd 14,250 2022
Avenue
Single-user industrial development at Pioneer
Eat JUST Asia Pte Ltd 17,450 2023
View
Single-user industrial development at Senoko
Tak Product & Services Pte Ltd 4,720 na
Loop
Single-user industrial development at Tampines
Siltronic Silicon Wafer Pte Ltd 138,550 na
Industrial Avenue 5
Single-user industrial development at Tuas
Peck Tiong Choon Pte Ltd 7,040 2024
Avenue 13

25
 Gross Floor Expected
Description and Location of Project Name of Developer Area Year of
(sq m) Final TOP

SINGLE-USER FACTORY PROJECT

Private Sector

Single-user industrial development at Tuas Link 3 F&N Foods Pte Ltd 14,280 na

Single-user industrial development at Tuas Link 4 3M Innovation Singapore Pte Ltd 27,500 na

Tee Yih Jia Food Manufacturing

Tee Yih Jia Food Hub at Senoko Road 83,260 2022
Pte Ltd

Sub-Total 1,624,320

Total 1,635,600

BUSINESS PARK PROJECT

Public Sector

Business park development at Punggol Way JTC Corporation 165,290 2024

Business park development at Punggol Way JTC Corporation 68,950 2025

CleanTech Three at Cleantech Loop JTC Corporation 25,830 2022

Sub-Total 260,070

BUSINESS PARK PROJECT

Private Sector
Additions/alterations to existing business park
PRE 15 Pte Ltd 10,350 na
development at Venture Avenue
Business park development at Changi Business
Kajima Development Pte Ltd 13,050 na
Park Crescent
Business park development at Science Park Science Park Property Trustee
28,820 na
Drive Pte Ltd
Business park development at Science Park
SPRINT Plot 1 TM Pte Ltd 112,530 na
Drive

Elementum at North Buona Vista Drive HB Universal Pte Ltd 35,180 na

Surbana Jurong Capital (JID) Pte

Surbana Jurong Campus at Cleantech Loop 41,350 2022
Ltd

Sub-Total 241,280

Total 501,350

WAREHOUSE PROJECT
Public Sector

JTC Logistics Hub @ Gul at Gul Circle JTC Corporation 54,780 2023

Sub-Total 54,780

26
 Gross Floor Expected
Description and Location of Project Name of Developer Area Year of
(sq m) Final TOP

WAREHOUSE PROJECT
Private Sector

2PS1 at Pioneer Sector 1 Soilbuild Business Park REIT 70,330 2022

Additions/alterations to existing industrial

WCA Pte Ltd 6,220 2023
development at Jalan Ahmad Ibrahim
Additions/alterations to existing industrial
Tuas South Avenue Pte Ltd 76,490 2022
development at Tuas South Avenue 14
Additions/alterations to existing industrial
Tuas South Avenue Pte Ltd 22,020 na
development at Tuas South Avenue 14
Fairprice Group Fresh Food Distribution Centre
NTUC Fairprice Co-operative Ltd 69,930 na
at Sunview Road

Logos eHub at Pandan Crescent Pandan Crescent Pte Ltd 81,050 na

Logos Penjuru Logistics Centre at Tanjong

2TPC Pte Ltd 33,860 na
Penjuru Crescent
Multiple-user industrial development at Genting
Metal House Investment Pte Ltd 260 na
Lane

Singapore Gems Building at Kung Chong Road Regal Haus Pte Ltd 2,710 na

Single-user industrial development at Aljunied

Exeo Global Pte Ltd 2,680 2022
Avenue 3
Single-user industrial development at Banyan
Arkema Pte Ltd 740 na
Avenue
Single-user industrial development at Chin Bee
OJJ Foods Pte Ltd 3,830 2022
Avenue
Single-user industrial development at Pioneer
Eat JUST Asia Pte Ltd 1,400 2023
View
Single-user industrial development at Senoko
Tak Product & Services Pte Ltd 1,990 na
Loop
Single-user industrial development at Tampines
Siltronic Silicon Wafer Pte Ltd 8,860 na
Industrial Avenue 5
Single-user industrial development at Tuas
Peck Tiong Choon Pte Ltd 10,280 2024
Avenue 13

Single-user industrial development at Tuas Link 3 F&N Foods Pte Ltd 20,500 na

Single-user industrial development at Tuas Link 4 3M Innovation Singapore Pte Ltd 2,880 na

Tee Yih Jia Food Manufacturing

Tee Yih Jia Food Hub at Senoko Road 16,740 2022
Pte Ltd
Kuan Aik Hong Construction Pte
Warehouse development at Chai Chee Lane 2,230 na
Ltd

Warehouse development at Penjuru Lane ACW Holdings Pte Ltd 46,620 na

Warehouse development at Penjuru Lane Soon Bee Huat Trading Pte Ltd 24,320 2022

27
 Gross Floor Expected
Description and Location of Project Name of Developer Area Year of
(sq m) Final TOP

WAREHOUSE PROJECT
Private Sector

Warehouse development at Pesek Road SPCI Advance Pte Ltd 9,100 2022

Warehouse development at Senoko Drive TC Import & Export Pte Ltd 7,900 na

Warehouse development at Senoko Loop Tiong Nam Logistics (S) Pte Ltd 24,940 2022

Warehouse development at Senoko Way Angkasa Daehan Steel Pte Ltd 3,110 na

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

Warehouse development at Tagore Industrial

Ang Mo Supermarket Pte Ltd 2,500 na
Avenue

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

Warehouse development at Tuas Avenue 13 Drex-Chem Technologies Pte Ltd 4,730 na

Sub-Total 682,810

Total 737,590

Note:
1. The pipeline projects include (i) all new erections and (ii) extension and additions/ alterations projects with Gross Floor Area (GFA) of 7,000
sqm and above. Projects that obtain partial completion would continue to be included until they are fully completed.
2. Projects would be removed from the pipeline listing when (i) the GFA of extension and additions/ alterations projects fall below 7,000 sqm
or (ii) projects are withdrawn/ aborted.
3. Major mixed-use development projects with industrial use are also included.
4. The GFA of the projects would be adjusted accordingly if amendments are made to the development applications or if the planning
approvals are lapsed.
5. The expected year of final TOP is shown as “NA” for projects where the developer has not consented to the release of the information or
if the information was not obtained from the developer directly.

28
 Annex B: Statistics on JTC’s Prepared Industrial Land and Ready-Built Facilities

Table 1: Gross Allocation and Returns by Product Segment (1Q 2021 – 1Q 2022)

Gross Allocation Returns

1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q
2021 2021 2021 2021 2022 2021 2021 2021 2021 2022
Prepared Industrial Land (ha)
Total1 22.5 54.9 16.3 83.5 48.4 25.4 42.6 26.4 44.1 46.6
Generic Land 20.8 17.9 9.9 23.0 13.0 25.0 30.3 25.6 16.1 28.3
Tuas Biomedical Park - 6.9 - 22.8 14.7 - 11.1 - - -
Jurong Island 1.4 0.6 5.3 2.6 14.9 0.0 1.0 0.6 5.7 3.3
Wafer Fab Park - 29.4 1.0 34.6 5.8 - - - 22.1 12.4
Business Park 0.3 0.0 - 0.6 - 0.4 0.2 0.2 0.2 0.1
Logistics Park - - - - - - - - - 2.6
Seletar Aerospace
- - - - - - - - - 0.1
Park

Ready-Built Facilities (‘000 sqm)

Total 121.1 151.8 98.2 111.5 91.8 60.6 55.7 74.2 84.6 120.6
High-Rise Space 91.2 86.3 66.1 83.4 64.4 27.3 29.9 36.1 26.7 50.8
Business Park Space 0.6 5.1 0.7 1.0 0.5 0.3 1.5 0.9 11.0 0.1
Land-Based Factory 21.1 52.3 25.4 20.5 20.3 26.5 20.2 30.4 39.4 64.5
Workshop Space 8.3 8.1 5.9 6.7 6.5 6.6 4.1 6.8 7.5 5.2

Note:
1. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme.

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Table 2: Gross Allocation by Allocation Mode (1Q 2021 – 1Q 2022)

Gross Allocation
1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022
Prepared Industrial Land (ha)
Total1 22.5 54.9 16.3 83.5 48.4
Direct Allocation2 17.6 53.5 14.5 79.7 46.0
Tender/ Launches3 4.9 1.4 1.8 3.8 2.3

Ready-Built Facilities (‘000 sqm)

Total 121.1 151.8 98.2 111.5 91.8
Direct Allocation2 84.8 107.2 58.8 82.5 68.0
Tender/ Launches3 36.3 44.6 39.4 29.0 23.7

Note:
1. 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 2021 – 1Q 2022)

Gross Allocation
1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022
Prepared Industrial Land (ha)
Total1 22.5 54.9 16.3 83.5 48.4
Lease 1.5 12.4 3.9 13.5 7.9
Tenancy 0.5 - 0.1 0.4 -
Licence 20.4 42.5 12.2 69.7 40.5

Note:
1. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme.

30
Table 4: Gross Allocation and Returns of Prepared Industrial Land by Industry
(1Q 2021 – 1Q 2022)

Gross Allocation (ha) Returns (ha)

1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q
2021 2021 2021 2021 2022 2021 2021 2021 2021 2022
Total1 22.5 54.9 16.3 83.5 48.4 25.4 42.6 26.4 44.1 46.6
Manufacturing 1.9 44.4 1.5 47.8 12.2 11.9 17.7 7.7 24.0 15.9
Electronics - 29.4 1.0 18.6 1.6 - - - 18.1 0.5
Precision Engineering - - - 4.1 1.0 - 1.6 0.4 1.9 2.2
Chemicals 0.8 1.8 0.2 3.4 9.1 - 1.6 6.0 2.1 0.1
Biomedical Manufacturing - 6.6 - 21.7 0.5 - 11.1 - - -
Transport Engineering 0.2 6.6 - - - 4.6 - 0.2 1.2 10.5
General Manufacturing
0.8 0.0 0.2 0.1 - 7.3 3.4 1.1 0.7 2.7
Industries
Mfg Related & Supporting 20.6 10.5 14.8 35.7 36.2 13.5 24.9 18.7 20.1 30.8
Information &
- - - - 0.9 - - - - -
Communication
Professional, Scientific &
- 0.3 - 15.8 1.1 0.8 - 0.2 - 12.2
Technical Activities
Transportation & Storage 0.5 5.5 3.3 6.2 1.9 4.0 2.7 4.5 4.4 6.4
Water Supply, Sewerage &
0.0 - - - - - - 3.0 0.6 -
Waste Management

Construction 14.2 4.0 2.8 12.6 6.1 4.0 14.2 7.3 9.4 6.4

Real Estate/ Financial

Activities/ Holding 4.1 - 2.2 - 17.5 2.4 1.7 1.8 - 0.6
Companies
Other Services 1.7 0.6 6.5 1.1 8.6 2.3 6.3 1.9 5.6 5.0

Note:
1. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme.

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Table 5: Gross Allocation and Returns of Ready-Built Facilities by Industry
(1Q 2021 – 1Q 2022)

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

1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q
2021 2021 2021 2021 2022 2021 2021 2021 2021 2022
Total 121.1 151.8 98.2 111.5 91.8 60.6 55.7 74.2 84.6 120.6
Manufacturing 52.0 37.3 22.6 29.4 32.8 26.1 17.5 25.2 18.9 25.4
Electronics 0.3 0.1 0.3 0.2 6.5 0.6 - - 0.2 1.9
Precision Engineering 10.6 11.9 3.3 13.9 9.3 6.1 11.2 6.5 2.0 8.3
Chemicals 4.6 2.8 1.1 0.2 1.7 4.5 0.4 2.6 9.8 4.2
Biomedical Manufacturing 7.5 1.8 1.0 0.2 9.1 0.2 0.3 1.7 - 0.1
Transport Engineering 4.9 2.8 0.5 0.6 0.7 2.9 - 2.9 0.1 2.3
General Manufacturing
24.0 17.8 16.3 14.3 5.5 11.8 5.6 11.4 6.8 8.6
Industries
Mfg Related & Supporting 69.1 114.5 75.6 82.1 59.0 34.5 38.2 49.0 65.7 95.2
Information &
1.7 3.2 1.6 6.3 3.2 1.1 0.7 1.4 2.3 0.6
Communication
Professional, Scientific &
3.9 9.0 10.3 6.7 2.4 1.5 2.1 1.7 1.6 1.4
Technical Activities
Transportation & Storage 2.6 28.3 0.9 19.6 0.2 1.1 2.2 4.4 21.0 34.1
Water Supply, Sewerage &
0.1 0.3 3.8 0.1 - - - 0.5 7.7 0.2
Waste Management
Construction 8.4 17.0 26.4 17.9 11.4 5.8 4.9 19.7 8.0 21.1
Real Estate/ Financial
Activities/ Holding 8.1 - 0.8 1.2 0.4 1.0 1.4 2.5 1.2 2.0
Companies
Other Services 44.3 56.7 31.8 30.2 41.4 24.0 26.9 18.7 24.1 35.8

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Table 6: Total Allocated and Supply by Product Segment (Prepared Industrial Land)
(1Q 2021– 1Q 2022)

Total Allocated as at
1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022
Prepared Industrial Land (ha)
Total1 7,311.8 7,323.9 7,315.7 7,350.8 7,355.0
Generic Land 3,870.3 3,858.2 3,844.3 3,851.0 3,835.6
Tuas Biomedical Park 178.6 174.4 174.4 197.2 211.9
Jurong Island 1,810.5 1,810.1 1,814.8 1,811.7 1,823.4
Wafer Fab Park 151.8 181.2 182.3 194.5 188.0
Business Park 98.9 98.8 98.5 98.9 98.8
Logistics Park 152.6 152.6 152.6 152.6 150.1
Seletar Aerospace Park 48.8 48.8 48.8 48.8 48.8
Land for JTC Ready-Built Facilities
1,000.3 999.8 999.9 996.1 998.5
(RBF)

Supply
1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022
Prepared Industrial Land (ha)
Total1 8,375.3 8,372.8 8,390.5 8,401.6 8,376.0
Generic Land 4,343.1 4,329.6 4,335.9 4,347.1 4,293.7
Tuas Biomedical Park 231.2 231.2 231.2 231.2 231.2
Jurong Island 1,978.4 1,978.7 1,978.7 1,978.6 1,982.3
Wafer Fab Park 274.3 274.4 274.3 271.6 271.5
Business Park 131.7 131.7 131.7 131.1 130.8
Logistics Park 157.3 157.3 157.3 157.3 157.3
Seletar Aerospace Park 63.4 63.4 63.4 63.4 63.4
Land for JTC Ready-Built Facilities
1,195.9 1,206.6 1,218.1 1,221.3 1245.8
(RBF)

Note:
1. 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.

33
Table 7: Total Allocated and Supply by Product Segment (Ready-Built Facilities)
(1Q 2021 – 1Q 2022)

Total Allocated as at
1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022
Ready-Built Facilities (‘000 sqm)
Total 5,273.3 5,370.9 5,400.6 5,420.5 5,390.9
High-Rise Space 1,598.1 1,655.0 1,689.6 1,746.7 1,751.9
Business Park Space 272.1 276.9 276.8 266.8 267.1
Land-Based Factory 2,920.3 2,952.3 2,948.5 2,921.9 2,885.4
Workshop Space 482.8 486.7 485.6 485.1 486.5

Supply
1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022
Ready-Built Facilities (‘000 sqm)
Total 6,524.3 6,634.2 6,746.8 6,806.7 7,124.7
High-Rise Space 1,935.9 2,008.9 2,067.7 2,067.9 2,287.6
Business Park Space 313.7 322.1 349.4 349.4 349.4
Land-Based Factory 3,735.4 3,763.8 3,790.3 3,850.0 3,948.3
Workshop Space 539.3 539.4 539.4 539.4 539.5

Table 8: Occupancy Rate of Ready-Built Facilities (1Q 2021 – 1Q 2022)

1Q 2021 2Q 2021 3Q 2021 4Q 2021 1Q 2022

Ready-Built Facilities (%)
Overall 80.8 81.0 80.0 79.6 75.7
High-Rise Space 82.6 82.4 81.7 84.5 76.6
Business Park Space 86.7 86.0 79.2 76.4 76.5
Land-Based Factory 78.2 78.4 77.8 75.9 73.1
Workshop Space 89.5 90.2 90.0 89.9 90.2

34