Industrial landlord JTC Corporation has reported a sharp rise in demand for its prepared industrial land in the first quarter, thanks to a strong performance by its specialised industrial parks segment.
Net allocation - that is, properties leased less those let go - of prepared industrial land shot up 90 per cent, from the fourth quarter, to 95.7ha in the first quarter.
The big rise was due mainly to a whopping 184 per cent surge in demand for specialised parks, particularly Jurong Island, JTC said in its first-quarter report.
In the first quarter, companies leased 64.3ha of land on a net basis in Jurong Island, up from 20ha in the fourth quarter.
Strong demand was also witnessed in JTC’s business park and technopreneur park segments.
Property consultants said that tight supply in the office market has forced some companies to take up space in high-tech industrial buildings, or in business or science parks.
Because of stronger demand, industrial rents have also risen.
JTC said the net amount of business park space rented out in the first quarter reached 4,600 sq m, up 92 per cent from 2,400 sq m in the fourth quarter.
In the technopreneur space segment, the net amount of space rented out to companies came to 1,200 sq m in the first quarter. This was up from 300 sq m in the fourth quarter.
Meanwhile, the net amount of leased space in JTC’s other ready-built facilities fell. These are the low-rise factories for single tenants, two-storey stack-up factories and multi-storey flatted factories serving multiple tenants.
Source : Straits Times - 1 May 2007
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