Factory space, anyone?

There’s a total supply of 3.298m sqm GFA of factory space from projects in the pipeline as at the end of the 3rd quarter.

The Urban Redevelopment Authority said that of these, about 3.153m sqm were expected to be completed between 2011 and 2013.

Meanwhile prices of multiple-user factory space increased by 6.7% in 3rd quarter 2011, compared with 5.7% in the previous quarter. Rentals of multiple-user factory space increased by 2.1%, compared with the increase of 4.5% in the previous quarter.

In terms of vacancy, the amount of occupied factory space increased by 118,000 sqm (nett) in 3rd quarter 2011, higher than the increase of 110,000 sqm (nett) in 2nd quarter 2011. On the other hand, the stock of factory space increased by 93,000 sqm in 3rd quarter 2011. The vacancy rate of factory space was 7.0% as at the end of 3rd quarter 2011, compared with the 7.1% as at the end of the previous quarter.