Business parks

SINGAPORE PROPERTY

Standard Chartered to sell and lease back two Changi Business Park properties for S$183 million

Lender says move is part of strategy to drive further growth in Singapore, its second-largest market

UI Boustead Reit comprises 23 properties in Singapore and Japan, with a portfolio valued at S$1.9 billion.

UI Boustead Reit launches S$1.2 billion IPO at S$0.88 per unit

Following the offering, the trust will have a total market capitalisation of S$1.95 billion 

House+ Bubble’s facilities include a women’s hot spring pool, with adjustable water temperatures.

Chinese wellness operator House+ Bubble opens 24-hour spa complex in Perennial Business City

The company is leasing 49,000 sq ft for Phase One, and has plans to expand it to 100,000 sq ft 

The new AI park at one-north is likely to boost demand for industrial spaces in the area, say analysts.

Government’s AI push set to spur interest in one-north tech hub: analysts

CapitaLand, CapitaLand Ascendas Reit, Keppel DC Reit stand to benefit from drive to build artificial intelligence ecosystem

The leases of Orchid Country Club in Yishun (above) and Warren Golf & Country Club in Choa Chu Kang end in 2030.

Orchid Country Club, Science Park sites among plots rezoned for housing

Other sites now earmarked for housing in new Draft Master Plan 2025 include Gillman Barracks, Marina Bay Golf Course, Warren Golf & Country Club and Keppel Terminal

CapitaLand Development will be launching its first residential project in Singapore Science Park – the 343-unit LyndenWoods condo.

CapitaLand to launch LyndenWoods condo in Singapore Science Park with prices from S$2,200 psf

This will be the developer’s first residential project in the Buona Vista business park; it plans to roll out one or two more

The upcoming influx of new business park space in 2025, led by Geneo in Singapore Science Park (above) and the Punggol Digital District, could be attractive alternatives for eligible larger tenants seeking a campus-like environment, and at a fraction of traditional office rental costs.
BT PROPERTY WEEK

Tight CBD supply, resilient rents could revive demand for decentralised offices

With CBD Grade-A rents expected to rise by 3 to 5% a year for the next five years, large occupiers could reap savings by being outside the area

The supply boom from the upcoming Punggol Digital District (above) and the redevelopment of 1 and 7 Science Park Drive could potentially put further pressure on rents and occupancy, particularly for older developments, said Savills.

Singapore business parks hit by highest vacancy in 14 years: Savills

The overall market sentiment for the segment remains lukewarm

Rents at suburan business park space, such as the Punggol Digital District, posted a gross effective rent of S$3.46 per square foot per month during Q3, says Cushman & Wakefield.

Tough 2024 for suburban business parks with rising vacancies; muted growth for industrial rents in 2025

Most industrial submarkets can expect to grow by 2 to 3% next year – but not business parks in the suburbs

The overall vacancy rate at Changi Business Park has gone up; some properties there are reporting nearly 40 per cent of unoccupied space.

Pressing need for business parks to reposition and reinvent their spaces: real estate don

NUS poll finds business parks still relevant and competitive, but changing work landscape could hurt demand