Green shoots for rent at some industrial segments

Singapore

WHILE industrial rentals continued to moderate in the third quarter, the absorption of industrial space has picked up pace in certain sub-segments following positive manufacturing and trade performance in Singapore.

JTC's statistics released on Thursday showed overall industrial rents slipping another 1.1 per cent, making this the 10th straight quarter of decline. Compared to a year ago, industrial rentals have fallen 3.2 per cent.

Tay Huey Ying, JLL's head of research and consultancy in Singapore, believes that this was largely the result of a supply overhang rather than demand pressure.

About 931,000 square metres (sq m) of industrial space is estimated t…