Freelance Research Analyst

Tay Hock Meng

Thematic (Sector/Industry)

<ul><li>In a Business Times news article published on November 20, 2014, it was reported JTC together with Urban&nbsp;Redevelopment Authority (URA) are looking into creating a separate category for Type B-1 industrial space and&nbsp;office space usage. The planned location that will be a test bed for this new classification was cited to be&nbsp;somewhere near the Woodlands Industrial Estate. One of the main objectives arising from this potential new&nbsp;classification was to address the various concerns expressed by many industrialists on the relative high costs of&nbsp;office rentals, resulting in many firms choosing to relocate outside of Singapore, or seeking out various methods&nbsp;to ‘skirt’ around the strict regulations governing Type B-1 industrial space usage.</li><li>Under the current JTC regulations, there must be at least 60 percent of the total floor area in each strata unit in a&nbsp;Type B-1 development to be set aside for core industrial activities such as clean and light manufacturing,&nbsp;assembly and repair, or warehouse and storage. The balance of the 40 percent can be allocated only for ancillary&nbsp;offices or support services such as technical service centres, and furniture showrooms, among others. Standalone&nbsp;offices such as attorney offices, architecture firms, and banks, among others are strictly prohibited.</li><li>In this article, we will like to examine the historical Type B-1 rental trends by region; the percentage spread&nbsp;difference between office rentals located in the central region and multiple industrial space rentals; and vacancy&nbsp;rates of both office and industrial spaces in order to determine whether a new classification is warranted or what&nbsp;are the potential policy implications arising from such a revamp in regulations governing industrial space&nbsp;usages.</li></ul>

In a Business Times news article published on November 20, 2014, it was reported JTC together with Urban&nbsp;Redevelopment Authority (URA) are looking into creating a separate category for Type B-1 industrial space and&nbsp;office space usage. The planned location that will be a test bed for this new classification was cited to be&nbsp;somewhere near the Woodlands Industrial Estate. One of the main objectives arising from this potential new&nbsp;classification was to address the various concerns expressed by many industrialists on the relative high costs of&nbsp;office rentals, resulting in many firms choosing to relocate outside of Singapore, or seeking out various methods&nbsp;to ‘skirt’ around the strict regulations governing Type B-1 industrial space usage.Under the current JTC regulations, there must be at least 60 percent of the total floor area in each strata unit in a&nbsp;Type B-1 development to be set aside for core industrial activities such as clean and light manufacturing,&nbsp;assembly and repair, or warehouse and storage. The balance of the 40 percent can be allocated only for ancillary&nbsp;offices or support services such as technical service centres, and furniture showrooms, among others. Standalone&nbsp;offices such as attorney offices, architecture firms, and banks, among others are strictly prohibited.In this article, we will like to examine the historical Type B-1 rental trends by region; the percentage spread&nbsp;difference between office rentals located in the central region and multiple industrial space rentals; and vacancy&nbsp;rates of both office and industrial spaces in order to determine whether a new classification is warranted or what&nbsp;are the potential policy implications arising from such a revamp in regulations governing industrial space&nbsp;usages.

Singapore Real Esate: Potential policy implications resulting from creating a new classification between Type B-1 industrial  space and office space

Singapore

Ascendas India Trust is a business trust that invests in real estate. The trust acquires, owns, and develops land for business use.

Ho Bee Land Limited develops and invests in real estate properties in Singapore and United Kingdom.  The Company also operates hotels.

First Sponsor Group Limited, an investment holding company, is engaged in the property development and investment activities primarily in the People's Republic of China. Its properties include residential and commercial properties.

Wing Tai Holdings Limited is an investment holding company whose subsidiaries invest in and develop properties, manufacture woven labels, and trade garments and architectural products and accessories.  The Company also provides management services and operates restaurants.

Bukit Sembawang Estates Limited, through its subsidiaries, operates in property development, property mortgage financing, and the holding of properties and investments. The Company provides residential property development throughout Singapore.

Singapore Land Group Limited operates as a real estate company. The Company develops and invests in properties, and provides property management, information technology, development management and consultancy services, as well as trades in computers and related products, and invests in hotels and retail centers. Singapore Land Group serves clients in Singapore.

Yanlord Land Group Ltd is a real estate development company. The Company develops high-end residential property projects in the Peoples Republic of China.

Sinarmas Land Ltd. invests in, develops and manages real estate.  The Company owns commercial buildings, hotels and resorts in China, Indonesia, Malaysia and Singapore.

Hong Fok Corporation Limited is an investment holding company whose principal activities consist of property investment, property development, property management, and investment trading.

Far East Orchard Limited operates a diversified portfolio focusing on property development, hospitality real estate development and management and healthcare real estate. The Company operates a hospitality portfolio spanning Australia, China, Denmark, Germany, Hungary, Malaysia, New Zealand, and Singapore and owns purpose-built medical suites in Singapore.

China Jinmao Holdings Group Limited invests in and develops real estate projects in the Peoples Republic of China.

Sunac China Holdings Limited is a real estate development company.

Great Eagle Holdings Limited, through its subsidiaries, develops and invests in properties, operates hotels and restaurants, and trades building materials.  The Company also invests in securities and provides management, maintenance, and insurance agency services.  In addition, Great Eagle operates sports clubs.

Sunteck Realty Ltd. develops real estate.

Hainan Haide Industry Co., Ltd. develops residential properties and operates a hotel.

Cinda Real Estate Co., Ltd. is a residential property development company.

Cathay Real Estate Development Co., Ltd. develops, sells, and leases residential and commercial buildings which are constructed by independent contractors.

Eco World Development Group Berhad is an investment holding company which operates property investment and development.  Through its subsidiaries, the Company develops properties and provides project management services.

Mahindra Lifespace Developers Limited specializes in the construction and operation of commercial and residential property complexes, projects management services and business centers.

Mahindra Lifespace Developers Ltd (MLIFE IN)

Macrolink Culturaltainment Development Co., Ltd. develops real estate projects; sells construction materials, daily necessities and hardware; manages investments; and leases office and commercial properties.

Macrolink Culturaltainment Development Co., Ltd. (000620 CH)

Macrolink Culturaltainment Development Co., Ltd.

GuocoLand Limited is a regional property company with operations in Singapore, China, Malaysia and Vietnam. Headquartered in Singapore, the principal business activities of GuocoLand and its subsidiaries (“the Group”) are property development, property investment, hotel operations and property management.

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GuocoLand (GUOL SP)

Singapore Real Esate: Potential policy implications resulting from creating a new classification between Type B-1 industrial space and office space

In a Business Times news article published on November 20, 2014, it was reported JTC together with Urban Redevelopment Authority (URA) are...

Tay Hock Meng

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