Take-up Rate for Space in JTC and HDB Industrial Parks

Er Dr Lee Bee Wah asked the Minister for Trade and Industry (a) what is the take-up rate for space in JTC and HDB industrial parks for the past three years; (b) whether there is more demand than supply for such space; and (c) whether there are plans to build more such parks.

Mr Lim Hng Kiang: The occupancy rate of JTC’s and HDB’s industrial facilities dropped from 97% in 2012 to 96% in 2013 and 94% in 2014. For the overall industrial space market, the occupancy rate fell from 93% in 2012 to 91% in 2014, following the Government’s release of more industrial land and space in recent years.

An average of about 1.8 million sqm of industrial space is expected to come on-stream each year in 2016 and 2017. This is higher than the average annual supply and demand of around 1.5 million sqm and 1.0 million sqm in the past three years. Of the upcoming industrial space, new JTC developments will contribute about 340,000 sqm. The projects include JTC Chemicals Hub @ Tuas View and JTC nanoSpace @ Tampines. The Government will continue to monitor the industrial property market closely and make available more space when necessary.