Far East to start marketing Tuas factory complex soon

PROPERTY giant Far East Organization is revving up its industrial property engine. It is expected to begin sales next week at a 30-year leasehold strata factory project, The Index in Tuas South Avenue 3.

The average price of the factory units is expected to be around $330-350 per square foot (psf), slightly below the $360 psf average the group achieved for its nearby project, The Westcom in Tuas South Avenue 6. So far, it has sold about 92 per cent of the 144 warehouse and factory units in The Westcom, which is coming up on a site with 41 years left on its original 60-year lease term. Far East bought the site in 1995.

As for The Index, the property giant is offering 98 strata factories as well as a staff canteen for sale. There will be three unit types, according to size - Type A (32,754 sq ft to 33,615 sq ft), Type B (10,613-14,574 sq ft) and Type C (2,195-8,697 sq ft).