Global economic uncertainty casts pall on industrial property
S'pore also expected to face competition from Iskandar soon, says Knight Frank
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Kalpana Rashiwala
KNIGHT Frank has presented a cautious picture for Singapore's industrial property market, citing policies that could restrain its growth. At the same time, the Republic is expected to face competition from Iskandar Malaysia in retaining and attracting industrial space users in the near future.
Although Singapore government initiatives such as the ratification of various free trade agreements have helped to boost the Republic's market access and competitiveness, overseas manufacturers are not setting up shop here in large numbers.
"This has more to do with the global economic platform," notes Lim Kien Kim, executive director (industrial) at Knight Frank.
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