Establish Property Developer had launched a new condo project in Singapore Tampines area

TC has launched a confirmed-list website at Tampines Industrial Drive (Plot 3) available for sale by public tender. It is the initial of the 7 confirmed-list websites for the 2H2016 Industrial Government Land Sales Programme. The 52,589 sq feet site is zoned for business 2 development and also has a 20-year period with a maximum allowable gross plot proportion of 1.4. The tender workout closes at 11am on September 20. Rates as well as rents of industrial room continuouslied fall in tandem with occupancy prices, baseding upon JTC's quarterly commercial data. We can see it online at http://www.clubgeminiresidencecondo.sg/.

Commercial prices and also rents in 2Q2016 dropped 2.3% and 1.7% q-o-q respectively. On a y-o-y basis, rates and leas lowered 6.5% and also 6.1% respectively. Occupancy price reduced 0.7 percentage points from 90.1% in 1Q2016 to 89.4% in 2Q2016. "Production sector continues to be in the doldrums, which led a few companies to downsize their impact", states Cushman & Wakefield's study supervisor Christine Li. For example, mainboard-listed oilfield companies solid Swiber simply announced to wind up the firm today.

In 2H2016, there is an approximated 17.2 million sq ft of commercial area ahead on-stream. An extra 21.5 million sq feet of commercial room consisting of 5.3 million sq ft of multiple-user factory space is expected to be finished in 2017. The figure is more than the ordinary yearly supply and need of around 19.4 million sq ft and also 12.9 million sq ft specifically in the previous 3 years. "Anemic global need recovery in production is anticipated to remain to apply down stress on industrial rents as well as occupancies," adds Li. As at end-2Q2016, there had to do with 1,700 units in uncompleted strata-titled developments that continue to be available available.

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