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

Keppel REIT operates as a commercial real estate investment trust. The Trust owns and invests in a portfolio of income-producing office buildings and related real estate assets. Keppel REIT offers its services in Asia and Australia.

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Keppel REIT (KREIT 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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