Stable rents expected for single- and multiple-user factory space this year

Singapore

DESPITE a more sanguine economic outlook, factory space rents are expected to remain stable this year, tempered by new supply, says the National University of Singapore's Institute of Real Estate and Urban Studies (IREUS).

After the pandemic hampered construction activity last year, there will likely be a bump in supply this year: 885,000 square metres (sq m) (in gross floor area) and 1.14 million sq m of multiple- and single-user factory space respectively are poised to be added to the market.