JTC Quarterly Market Report 1Q2021.Pdf

QUARTERLY MARKET REPORT Industrial Properties

First Quarter 2021 SINGAPORE INDUSTRIAL PROPERTIES As at First Quarter 2021

Stock & Occupancy

mil sqm 50Available.1Stock 90.0%

Business Park Occupancy Rate

2.2 Multiple-User Warehouse Factory 11.4 11.1 0.1%-pt Compared to Previous Qtr

Single-User 25.4 Factory 0.8%-pt Compared to Previous Yr

*Figures in chart are in mil sqm

Rental Price 0.6% 0.9% 0.9% 1.3% Compared to Compared to Compared to Compared to Previous Qtr Previous Yr Previous Qtr Previous Yr

Outlook on Upcoming Supply

Expected Completion 1.4 mil sqm 1.6 mil sqm Multiple-User Single-User 2021 2 .4mil sqm Factory Factory

mil sqm mil sqm 2022 0.2 0.8 1.6 mil sqm Business Park Warehouse EXECUTIVE SUMMARY

1 In 1Q 2021, occupancy rate for the overall industrial property market rose by 0.1 percentage points on a quarter-on-quarter basis and 0.8 percentage points on a year-on-year basis to 90.0%. Delays in completion continue to persist. While 1 million sqm of industrial space was originally expected to be completed in 1Q 2021, actual completions were only about 131,000 sqm. Among the market segments, occupancy rates for multiple-user factory space rose by 0.5 percentage points on a quarter-on-quarter basis to 89.0% amid rising demand. By contrast, the occupancy rates for the single-user factory, business park and warehouse segments all fell.

2 In line with the broad recovery of the economy, prices and rentals have continued to rebound. In 1Q 2021, price and rental indices of all industrial space rose by 0.9% and 0.6% respectively as compared to the previous quarter. However, the price and rental indices still fell by 1.3% and 0.9% respectively year-on-year.

3 As at end March 2021, around 2.4 million sqm of new industrial space is expected to be completed in the next three quarters of 2021. Of the upcoming supply, single-user factory space makes up about 44%, multiple-user factory space makes up 31%, while the remaining 25% comprises warehouse and business park space.

4 As the economy starts to recover in 2021, the demand for industrial space is projected to increase. Any potential rise in occupancy is likely to be tempered by new completions and the increase in supply into the market. As such, prices and rentals are likely to remain stable. JTC will continue to monitor the market closely and support the needs of industrialists.

Overview of Price, Rental and Occupancy Rate movements for 1Q 2021

% Change 4Q 2020 1Q 2021 Over Over Previous Previous Quarter Year All Industrial 87.3 88.1 0.9 -1.3 Price Multiple-User Factory 90.2 91.0 0.9 -1.7 Single-User Factory 78.3 79.2 1.1 -0.6 All Industrial 89.6 90.1 0.6 -0.9 Multiple-User Factory 87.3 88.0 0.8 -0.6 Rental Single-User Factory 95.5 95.7 0.2 -1.0 Business Park 112.1 112.2 0.1 -1.0

Warehouse 83.7 84.1 0.5 -1.1 All Industrial 89.9% 90.0% 0.1 0.8 Multiple-User Factory 88.5% 89.0% 0.5 1.1 Occupancy Single-User Factory 91.0% 90.9% -0.1 0.2 Rate1 Business Park 85.8% 85.1% -0.7 -0.9 Warehouse 89.9% 89.8% -0.1 2.3

Note: 1 The % change refers to absolute change over previous year/quarter. STOCK & OCCUPANCY As at the end of 1Q 2021, there was 50.1 million sqm of industrial space. In 1Q 2021, occupancy rate for the overall industrial property market rose by 0.1 percentage points on a quarter-on-quarter basis and 0.8 percentage points on a year-on-year basis to 90.0%. Delays in completion continue to 50.1 mil sqm 90.0% persist. While 1 million sqm of industrial space was originally expected to be Available Stock Occupancy Rate completed in 1Q 2021, actual completions were only about 131,000 sqm. Among the market segments, occupancy rates for multiple-user factory Q-o-Q Y-o-Y space rose by 0.5 percentage points on a quarter-on-quarter basis to 89.0% 0.1 0.8 amid rising demand. By contrast, the occupancy rates for the single-user %-pt %-pt factory, business park and warehouse segments all fell. In particular, occupancy rates for business park space fell more sharply by 0.7 percentage points on a quarter-on-quarter basis and 0.9 percentage points on a year- Change in Stock on-year basis. Occupancy (‘000 sqm) Rate (%) 800 92

600 90 400 88 200 86 0

-200 84 2016Q1 2016Q3 2017Q1 2017Q3 2018Q1 2018Q3 2019Q1 2019Q3 2020Q1 2020Q3 2021Q1

Change in Available Stock (LHS) Change in Occupied Stock (LHS) Occupancy Rate (RHS)

Multiple-User Factory Single-User Factory

11.4 mil sqm* 25.4 mil sqm*

91.1 90.7 91.0 91.0 90.9 88.5 89.0 87.9 87.5 87.8 135 91 98 106 65 71 29 48 41 1 18 8 11 -14 -3 2020Q1 2021Q1 2020Q1 2021Q1

Business Park Warehouse

2.2 mil sqm* 11.1 mil sqm*

89.9 89.8 88.3 89.1 87.5 86.0 85.4 85.8 85.2 85.1 118 93 88 6960 49 27 3 7 8 10 7 7 -2 - -2-19 -1 -8 -11 2020Q1 2021Q1 2020Q1 2021Q1

Change in Available Stock (‘000 sqm) Change in Occupied Stock (‘000 sqm) Occupancy Rate (%) * Available Stock

Note: The figures for industrial stock are in terms of net floor area. RENTAL

Q-o-Q Y-o-Y In line with the broad recovery of the economy, rentals of industrial 0.9% space continued to rebound across all market segments. In 1Q 2021, 0.6% the rental index of all industrial space rose by 0.6% on a quarter-on- quarter basis, following a 0.1% quarter-on-quarter increase in the previous quarter. However on a year-on-year basis, the rental index still Rental Index (Private Industrial Space) fell by 0.9%. 2012Q4=100

120

100 90.9 90.3 89.5 89.6 90.1

60 2016Q1 2017Q1 2018Q1 2019Q1 2020Q1 2021Q1

Multiple-User Factory Single-User Factory

Q-o-Q Y-o-Y Q-o-Q Y-o-Y 0.6% 1.0% 0.8% 0.2% 2020Q1 2020Q1 96.7 88.5 88.0 88.1 87.1 87.3 95.7 95.5 95.7 95.0

2021Q1 2021Q1

Business Park Warehouse

Q-o-Q Y-o-Y Q-o-Q Y-o-Y 1.0% 1.1% 0.1% 0.5% 2020Q1 2020Q1 113.3 113.1 85.0 112.2 84.4 84.1 112.0 112.1 83.5 83.7

2021Q1 2021Q1

Rental Index (Private Industrial Space) PRICE

Q-o-Q Y-o-Y Prices of industrial space also continued to rebound. In 1Q 2021, the price index of all industrial space rose by 0.9% on a quarter-on-quarter 1.3% basis, following a 1.0% quarter-on-quarter increase in the previous 0.9% quarter. However, the price index still fell by 1.3% on a year-on-year basis. Transaction volume of industrial properties, estimated based on caveats lodged for industrial properties, doubled year-on-year. This could be attributed to improving market sentiments. Price Index 2012Q4=100 120

100

89.3 88.3 86.4 87.3 88.1

60 2016Q1 2017Q1 2018Q1 2019Q1 2020Q1 2021Q1

Number of Caveats Lodged

400 379

320 305 300

200 151 112 100

0 2018Q1 2019Q1 2020Q1 2021Q1

Multiple-User Factory Single-User Factory

Q-o-Q Y-o-Y Q-o-Q Y-o-Y 1.7% 0.6% 0.9% 1.1% 2020Q1 2020Q1 92.6 91.2 91.0 79.7 89.2 90.2 79.2 79.2 77.7 78.3

2021Q1 2021Q1

Price Index INDUSTRIAL GOVERNMENT LAND SALES

In 1Q 2021, the tender for one Industrial Government Land Sales (IGLS) site targeted for single-user- development at Jalan Papan closed. However, it was not awarded as the highest bid was below the reserve price.

NOT AWARDED Plot 7, Jalan Papan • Land area of 0.88 ha • Received 2 bids • Highest bid $411 psm ppr

An overview of the past successful tender prices for IGLS sites targeted at single-user developments is shown below.

Successful Tender Price ($ psm ppr) 600 2019Q1 2019Q3 2019Q4 2020Q1 2020Q3 2020Q4

(3) (2) (4) 400 (1) (1) (1) (1) (1)

200

0 Jan Mar Aug Dec Feb Feb Jul Oct 2019 2019 2019 2019 2020 2020 2020 2020

Tuas Jalan Papan/Gul Circle Woodlands Note: 1) Figures are shown by tender closing month. Number in bracket refers to the number of bids. 2) There was no successful tender in 2Q 2019 , 2Q 2020 and 1Q 2021. ALLOCATION OF JTC’S READY-BUILT FACILITIES [RBF]

In 1Q 2021, JTC allocated a total of 87,000 sqm of RBF space to industrialists, which included 61,000 sqm of high-rise space and 18,700 sqm of land-based factory space.

Total RBF returns in 1Q 2021 was 53,700 sqm, of which 27,700 sqm was high-rise space and 19,300 sqm was land-based factory space. About 57% of the total returns were due to natural expiries or companies consolidating their operations.

Gross Allocation Returns (‘000 sqm) (‘000 sqm)

110 106.3 110 100 100 90 87.0 90 80 80 70 70 59.5 60 60 55.7 53.7 51.9 50.0 50 50 44.3 38.8 40 40 38.1 30 30 20 20 10 10 0 0 2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2020Q1 2020Q2 2020Q3 2020Q4 2021Q1

Among the high-rise space that was allocated, about 57% was in JTC’s newer developments which include JTC Food Hub @ Senoko, trendspace, JTC Space @ Tampines North, JTC Space @ Tuas, JTC MedTech Hub @ MedTech Park, Surface Engineering Hub and LaunchPad @ one-north.

4 5

6 7

1. JTC Food Hub @ Senoko 2. trendspace 3. JTC Space @ Tampines North 4. JTC Space @ Tuas 5. JTC MedTech Hub @ MedTech Park 6. Surface Engineering Hub 7. LaunchPad @ one-north

Note: Size of bubble denotes the amount of space allocated. OUTLOOK ON UPCOMING SUPPLY

In the next three quarters of 2021, an estimated New Supply (Historical and Upcoming) 2.4 million sqm of industrial space could be (‘000 sqm) completed based on approved plans as at end March 2021. About 44% of the supply is single- 2016 1,823 user factory space, typically developed by the 2017 1,942 industrialists for their own use. Multiple-user 2018 545 factory supply constitutes another 31% of the supply and warehouse and business park space 2019 865 makes up the remaining 25% of the supply. 2020 357 Between 2022 and 2024, an additional 2.8 2021 126 2,384 million sqm of industrial space is expected to be 2022 1,607 completed. This amounts to an average annual 2023 665 supply of about 1.4 million sqm from now until end 2024. As a comparison, the average annual 2024 552 supply and demand of industrial space were > 2024 5 around 0.6 million sqm and 0.7 million sqm

Historical Upcoming respectively over the past three years.

Note: The figures for upcoming supply are in terms of gross floor area, whereas historical changes in available stock (measured by taking the annual net change of available stock) are in terms of net floor area.

At the end of 1Q 2021, there were around 180 units, totalling about 76,000 sqm, in uncompleted 182units strata-titled developments still available for sale. in uncompleted About 64% of the units were at least 200 sqm in strata-titled developments size. available for sale OUTLOOK ON UPCOMING SUPPLY

Multiple-User Factory Single-User Factory

1.6 mil sqm 2.1 mil sqm

2021 513 738 2021 520 1,057 2022 552 2022 451 699 718 2023 320 2023 633 408 123 2024 150 2024 52 > 2024 5 369

Business Park Warehouse

0.6 mil sqm 0.9 mil sqm

2021 181 2021 408 2022 00 2022 357 2023 77 2023 144 2024 339 2024 10

Upcoming Supply (‘000 sqm)

Note: The figures for upcoming supply are in terms of gross floor area.

NOTE:

1) The figures may not add up due to rounding.

2) Statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020, industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

3) Scan the QR code to visit J-SPACE for historical and more detailed statistics.

ANNEX – Industrial Property Market Statistics

A1 Price Statistics 1

A2 Rental Statistics 5

A3 Stock and Vacancy Statistics 8

A4 Potential Supply Statistics 15

A5 Statistics on Industrial Units Available for Sale 17

A6 List of Major Industrial Projects Completed in 1Q 2021 18

A7 List of Major Industrial Projects in the Pipeline as at End of 1Q 2021 20

B Statistics on JTC's Prepared Industrial Land and Ready-Built Facilities 29

Annex A – Industrial Property Market Statistics

Annex A-1: Price Statistics

Table 1: Quarterly Price Index of Industrial Space (1Q 2020 – 1Q 2021)

% Change Market Segment 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Over Previous Quarter All Industrial 89.3 88.3 86.4 87.3 88.1 0.9 Multiple-User 92.6 91.2 89.2 90.2 91.0 0.9 Factory Planning Region Central Region 97.1 96.9 94.1 95.2 96.3 1.2 North Region 81.0 78.2 77.2 78.6 79.8 1.5 West Region 82.9 79.6 76.4 76.4 76.1 -0.4 Other Regions 83.3 83.0 83.3 84.0 84.5 0.6 Land-Use Zoning Business 1 93.7 92.2 89.8 90.9 91.9 1.1 Business 2 77.3 76.7 75.8 76.2 76.5 0.4 Remaining Tenure < 30 Years 85.6 84.6 80.7 82.8 83.4 0.7 31 – 60 Years 82.4 80.3 79.6 80.5 81.3 1.0 > 60 Years 98.4 98.8 95.5 95.7 96.3 0.6 Single-User Factory 79.7 79.2 77.7 78.3 79.2 1.1

Note: 1. From 1st Quarter 2019, the price index is computed using fixed weights based on 2018 transaction values.

Table 2: Quarterly Price Index of Industrial Space (2Q 2018 – 1Q 2021)

Price Index Period All Industrial Multiple-User Factory Single-User Factory 2Q 2018 89.9 93.8 79.3 3Q 2018 90.0 93.9 79.4 4Q 2018 90.0 93.8 79.6 1Q 2019 89.9 93.6 79.6 2Q 2019 89.8 93.4 79.7 3Q 2019 89.9 93.4 79.9 4Q 2019 89.7 93.2 79.8 1Q 2020 89.3 92.6 79.7 2Q 2020 88.3 91.2 79.2 3Q 2020 86.4 89.2 77.7 4Q 2020 87.3 90.2 78.3 1Q 2021 88.1 91.0 79.2

Note: 1. The price index is computed using fixed weights based on 2015 transaction values before 1Q 2019. From 1Q 2019, the weights used are fixed using 2018 transaction values.

Table 3: Quarterly Price Index of Multiple-User Factory by Planning Region (2Q 2018 – 1Q 2021)

Price Index of Multiple-User Factory Period Central Region North Region West Region Other Regions 2Q 2018 98.0 83.6 82.5 86.3 3Q 2018 98.1 83.0 83.4 86.3 4Q 2018 97.1 82.2 84.2 87.3 1Q 2019 97.8 81.4 83.3 86.5 2Q 2019 97.4 81.8 83.0 86.1 3Q 2019 97.9 81.4 83.3 85.0 4Q 2019 97.2 82.4 82.9 84.5 1Q 2020 97.1 81.0 82.9 83.3 2Q 2020 96.9 78.2 79.6 83.0 3Q 2020 94.1 77.2 76.4 83.3 4Q 2020 95.2 78.6 76.4 84.0 1Q 2021 96.3 79.8 76.1 84.5

Note: 1. The price index is computed using fixed weights based on 2015 transaction values before 1Q 2019. From 1Q 2019, the weights used are fixed using 2018 transaction values.

Table 4: Quarterly Price Index of Multiple-User Factory by Remaining Tenure and Land-Use Zoning (2Q 2018 – 1Q 2021)

Price Index of Multiple-User Factory

Period Remaining Tenure Land-Use Zoning 31 – 60 ≤ 30 Years > 60 Years Business 1 Business 2 Years 2Q 2018 85.5 85.7 99.2 95.6 79.0 3Q 2018 85.9 85.4 99.4 95.3 79.6 4Q 2018 87.5 83.0 100.3 93.9 80.7 1Q 2019 88.8 82.3 100.4 93.9 80.3 2Q 2019 87.1 83.2 98.6 94.0 79.3 3Q 2019 85.8 83.3 99.3 94.4 78.5 4Q 2019 85.5 82.9 99.4 94.0 78.6 1Q 2020 85.6 82.4 98.4 93.7 77.3 2Q 2020 84.6 80.3 98.8 92.2 76.7 3Q 2020 80.7 79.6 95.5 89.8 75.8 4Q 2020 82.8 80.5 95.7 90.9 76.2 1Q 2021 83.4 81.3 96.3 91.9 76.5

Note: 1. The price index is computed using fixed weights based on 2015 transaction values before 1Q 2019. From 1Q 2019, the weights used are fixed using 2018 transaction values.

Annex A-2: Rental Statistics

Table 5: Quarterly Rental Index of Industrial Space (1Q 2020 – 1Q 2021)

% Change Market Segment 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Over Previous Quarter All Industrial 90.9 90.3 89.5 89.6 90.1 0.6 Multiple-User 88.5 88.1 87.1 87.3 88.0 0.8 Factory Planning Region Central Region 89.9 89.8 88.9 89.2 89.8 0.7 North Region 93.7 93.0 92.3 92.7 93.8 1.2 West Region 76.7 76.3 75.3 75.3 76.0 0.9 East Region 91.0 89.1 87.9 88.0 89.0 1.1 Northeast Region 81.9 81.5 80.5 80.5 80.6 0.1 Land-Use Zoning Business 1 89.4 89.2 88.2 88.4 89.0 0.7 Business 2 81.9 80.8 80.0 80.3 81.2 1.1 Single-User Factory 96.7 95.7 95.0 95.5 95.7 0.2 Business Park 113.3 113.1 112.0 112.1 112.2 0.1 Warehouse 85.0 84.4 83.5 83.7 84.1 0.5

Note: 1. The rental index is compiled based on contracted gross rent per month as declared by tenants to IRAS through its e-Stamping system. Contracted gross rent includes the base rent and all charges in connection with the lease (such as additional rent, service charge, payment for hire of fittings or equipment, fees for advertising and promotion). It may or may not include any rent-free period and other incentives. 2. From 1Q 2019, the rental index is computed using fixed weights based on 2018 transaction values.

Table 6: Quarterly Rental Index of Industrial Space (2Q 2018 – 1Q 2021)

Rental Index

Period All Multiple-User Single-User Business Warehouse Industrial Factory Factory Park

2Q 2018 91.0 89.3 95.9 112.1 85.1 3Q 2018 90.9 89.1 95.8 112.0 85.1 4Q 2018 90.9 89.0 96.4 111.9 85.0 1Q 2019 90.9 88.9 95.8 112.9 85.1 2Q 2019 91.0 89.0 96.3 113.1 84.9 3Q 2019 91.0 89.0 96.8 113.2 84.7 4Q 2019 91.0 88.9 96.9 113.3 84.8 1Q 2020 90.9 88.5 96.7 113.3 85.0 2Q 2020 90.3 88.1 95.7 113.1 84.4 3Q 2020 89.5 87.1 95.0 112.0 83.5 4Q 2020 89.6 87.3 95.5 112.1 83.7 1Q 2021 90.1 88.0 95.7 112.2 84.1

Note: 1. The rental index is compiled based on contracted gross rent per month as declared by tenants to IRAS through its e-Stamping system. Contracted gross rent includes the base rent and all charges in connection with the lease (such as additional rent, service charge, payment for hire of fittings or equipment, fees for advertising and promotion). It may or may not include any rent-free period and other incentives. 2. The rental index is computed using fixed weights based on 2015 transaction values before 1Q 2019. From 1Q 2019, the weights used are fixed using 2018 transaction values.

Table 7: Quarterly Rental Index of Multiple-User Factory by Planning Region and Land-Use Zoning (2Q 2018 – 1Q 2021)

Rental Index of Multiple-User Factory

Period Planning Region Land-Use Zoning Central North West East Northeast Business Business Region Region Region Region Region 1 2 2Q 2018 91.5 91.9 77.7 89.7 83.5 90.6 81.5 3Q 2018 91.0 93.4 77.4 90.1 82.8 90.4 81.6 4Q 2018 90.6 93.7 77.5 90.4 82.9 90.1 81.8 1Q 2019 90.4 93.9 77.4 90.5 82.7 89.9 82.1 2Q 2019 90.3 94.4 77.5 90.4 83.0 89.9 82.3 3Q 2019 90.3 93.8 77.7 91.0 82.3 89.9 82.2 4Q 2019 90.3 94.0 77.3 91.0 82.3 89.8 82.2 1Q 2020 89.9 93.7 76.7 91.0 81.9 89.4 81.9 2Q 2020 89.8 93.0 76.3 89.1 81.5 89.2 80.8 3Q 2020 88.9 92.3 75.3 87.9 80.5 88.2 80.0 4Q 2020 89.2 92.7 75.3 88.0 80.5 88.4 80.3 1Q 2021 89.8 93.8 76.0 89.0 80.6 89.0 81.2

Note: 1. The rental index is compiled based on contracted gross rent per month as declared by tenants to IRAS through its e-Stamping system. Contracted gross rent includes the base rent and all charges in connection with the lease (such as additional rent, service charge, payment for hire of fittings or equipment, fees for advertising and promotion). It may or may not include any rent-free period and other incentives. 2. The rental index is computed using fixed weights based on 2015 transaction values before 1Q 2019. From 1Q 2019, the weights used are fixed using 2018 transaction values.

Annex A-3: Stock and Vacancy Statistics

Table 8: Stock and Vacancy Rate of Industrial Space (4Q 2020 – 1Q 2021)

Over Previous As at As at Quarter Property Type Market Indicator 4Q 1Q Absolute % 2020 2021 Change Change Available (‘000 sq m) 49,990 50,116 126 0.3 Occupied (‘000 sq m) 44,962 45,101 139 0.3 All Industrial Space Vacant (‘000 sq m) 5,028 5,015 -13 -0.3 Vacancy Rate (%) 10.1 10.0 -0.1 - Available (‘000 sq m) 11,370 11,407 37 0.3 Multiple-User Occupied (‘000 sq m) 10,064 10,155 91 0.9 Factory Vacant (‘000 sq m) 1,306 1,251 -55 -4.2 Vacancy Rate (%) 11.5 11.0 -0.5 - Available (‘000 sq m) 25,351 25,362 11 0.0 Single-User Occupied (‘000 sq m) 23,064 23,061 -3 0.0 Factory Vacant (‘000 sq m) 2,287 2,301 14 0.6 Vacancy Rate (%) 9.0 9.1 0.1 - Available (‘000 sq m) 2,197 2,207 10 0.5 Occupied (‘000 sq m) 1,885 1,877 -8 -0.4 Business Park Vacant (‘000 sq m) 313 330 17 5.4 Vacancy Rate (%) 14.2 14.9 0.7 - Available (‘000 sq m) 11,071 11,140 69 0.6 Warehouse Occupied (‘000 sq m) 9,948 10,008 60 0.6 Space Vacant (‘000 sq m) 1,123 1,133 10 0.9 Vacancy Rate (%) 10.1 10.2 0.1 -

Note: 1. The figures may not add up due to rounding. 2. Vacancy rate is calculated by taking the ratio of the exact vacant and available floor area. It may not be the same as the ratio of the rounded vacant and available floor area. 3. The statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020, industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

Table 9: Stock and Vacancy Rate of All Industrial Space (2Q 2018 – 1Q 2021)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 2Q 2018 48,525 43,033 5,492 11.3 3Q 2018 48,670 43,389 5,281 10.9 4Q 2018 48,768 43,562 5,206 10.7 1Q 2019 49,096 43,858 5,238 10.7 2Q 2019 49,278 44,030 5,248 10.7 3Q 2019 49,631 44,324 5,306 10.7 4Q 2019 49,633 44,288 5,346 10.8 1Q 2020 49,832 44,431 5,401 10.8 2Q 2020 49,930 44,639 5,291 10.6 3Q 2020 49,952 44,747 5,205 10.4 4Q 2020 49,990 44,962 5,028 10.1 1Q 2021 50,116 45,101 5,015 10.0

Table 10: Stock and Vacancy Rate of Multiple-User Factory Space (2Q 2018 – 1Q 2021)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 2Q 2018 11,314 9,729 1,585 14.0 3Q 2018 11,340 9,695 1,645 14.5 4Q 2018 11,326 9,802 1,525 13.5 1Q 2019 11,410 9,845 1,566 13.7 2Q 2019 11,365 9,912 1,454 12.8 3Q 2019 11,363 9,894 1,469 12.9 4Q 2019 11,310 9,898 1,413 12.5 1Q 2020 11,328 9,963 1,365 12.1 2Q 2020 11,383 9,964 1,419 12.5 3Q 2020 11,387 9,993 1,394 12.2 4Q 2020 11,370 10,064 1,306 11.5 1Q 2021 11,407 10,155 1,251 11.0

Table 11: Stock and Vacancy Rate of Single-User Factory Space (2Q 2018 – 1Q 2021)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 2Q 2018 24,451 22,081 2,370 9.7 3Q 2018 24,487 22,282 2,204 9.0 4Q 2018 24,576 22,344 2,232 9.1 1Q 2019 24,706 22,520 2,186 8.8 2Q 2019 24,864 22,600 2,264 9.1 3Q 2019 25,104 22,878 2,226 8.9 4Q 2019 25,142 22,833 2,309 9.2 1Q 2020 25,277 22,931 2,346 9.3 2Q 2020 25,295 23,037 2,258 8.9 3Q 2020 25,303 23,023 2,280 9.0 4Q 2020 25,351 23,064 2,287 9.0 1Q 2021 25,362 23,061 2,301 9.1

Table 12: Stock and Vacancy Rate of Business Park Space (2Q 2018 – 1Q 2021)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 2Q 2018 2,149 1,827 322 15.0 3Q 2018 2,149 1,848 301 14.0 4Q 2018 2,185 1,854 331 15.1 1Q 2019 2,201 1,883 317 14.4 2Q 2019 2,200 1,892 308 14.0 3Q 2019 2,200 1,896 303 13.8 4Q 2019 2,199 1,897 303 13.8 1Q 2020 2,197 1,889 308 14.0 2Q 2020 2,195 1,870 324 14.8 3Q 2020 2,198 1,877 322 14.6 4Q 2020 2,197 1,885 313 14.2 1Q 2021 2,207 1,877 330 14.9

Table 13: Stock and Vacancy Rate of Warehouse Space (2Q 2018 – 1Q 2021)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 2Q 2018 10,611 9,396 1,215 11.5 3Q 2018 10,694 9,563 1,131 10.6 4Q 2018 10,680 9,562 1,118 10.5 1Q 2019 10,778 9,609 1,169 10.8 2Q 2019 10,849 9,627 1,222 11.3 3Q 2019 10,963 9,656 1,307 11.9 4Q 2019 10,981 9,660 1,321 12.0 1Q 2020 11,030 9,649 1,381 12.5 2Q 2020 11,057 9,767 1,289 11.7 3Q 2020 11,064 9,855 1,209 10.9 4Q 2020 11,071 9,948 1,123 10.1 1Q 2021 11,140 10,008 1,133 10.2

Table 14: Available Stock and Occupancy Rate of Newly Completed Private Multiple-User Factory Space (2Q 2018 – 1Q 2021)

Year of Completion

Period 2018 2019 2020 2021 2018 2019 2020 2021

Available Stock (‘000 sq m) Occupancy Rate (%) 2Q 2018 248 - - - 15.0 - - - 3Q 2018 294 - - - 22.0 - - - 4Q 2018 294 - - - 32.3 - - - 1Q 2019 294 15 - - 55.8 13.2 - - 2Q 2019 293 57 - - 63.1 8.3 - - 3Q 2019 293 61 - - 67.0 11.0 - - 4Q 2019 293 61 - - 70.8 11.0 - - 1Q 2020 293 61 27 - 74.4 12.3 0.0 - 2Q 2020 293 61 29 - 76.0 48.0 12.3 - 3Q 2020 293 61 35 - 77.8 51.0 14.6 - 4Q 2020 293 61 35 - 79.1 55.7 26.2 - 1Q 2021 293 61 44 26 82.5 52.2 44.4 53.3

Note: 1. The available space refers to the total amount of net floor area, which may change across quarters as developments may complete in phases, or due to the reclassification or re-partitioning of space by industrialists. 2. The statistics on occupied/vacant space and occupancy/vacancy rate of industrial space are based on physical occupation. From 2Q 2020, industrial premises were considered occupied even if on-site operations were halted due to official restrictions.

Table 15: Available Stock of Industrial Space by Type of Industrial Space and Land-Use Zoning as at End of 1Q 2021

‘000 sq m net Land-Use Zoning Industrial Space Total Floor Area Business 1 Business 2 All Industrial Space 50,116 11,310 36,599 Multiple-User Factory 11,407 6,422 4,985

Single-User Factory 25,362 3,015 22,347

Business Park 2,207 - -

Warehouse Space 11,140 1,873 9,267

Note: 1. The figures may not add up due to rounding.

Annex A-4: Potential Supply Statistics

Table 16: Supply of Industrial Space by Property Type, Development Status and Expected Year of Completion as at End of 1Q 2021

‘000 sq m gross All Industrial Space Total 2021 2022 2023 2024 2025 >2025 Total 5,213 2,384 1,607 665 552 - 5 Under Construction 4,091 2,128 1,242 327 394 - - Planned 1,122 255 366 338 159 - 5 Written Permission 646 170 275 178 17 - 5 Provisional Permission 406 86 83 125 113 - - Others 71 - 8 34 29 - - Multiple-User Factory 1,613 738 699 123 52 - - Under Construction 1,516 707 640 117 52 - - Planned 96 32 58 7 - - - Written Permission 44 1 39 4 - - - Provisional Permission 53 31 19 2 - - - Others ------Single-User Factory 2,084 1,057 552 320 150 - 5 Under Construction 1,442 873 278 177 115 - - Planned 642 184 274 144 36 - 5 Written Permission 451 156 228 55 7 - 5 Provisional Permission 120 28 38 54 - - - Others 71 - 8 34 29 - - Business Park 597 181 0 77 339 - - Under Construction 419 179 - 13 227 - - Planned 178 2 0 64 113 - - Written Permission 2 2 - - - - - Provisional Permission 177 - 0 64 113 - - Others ------Warehouse 919 408 357 144 10 - - Under Construction 713 369 323 21 - - - Planned 205 38 33 124 10 - - Written Permission 149 12 8 119 10 - - Provisional Permission 56 26 25 5 - - - Others ------

Note: 1. The figures may not add up due to rounding. 15

Table 17: Supply of Industrial Space by Property Type, Usage and Expected Year of Completion as at End of 1Q 2021

‘000 sq m gross All Industrial Space Total 2021 2022 2023 2024 2025 >2025 Total 5,213 2,384 1,607 665 552 - 5 Business 1 247 206 34 7 - - - Business 2 4,369 1,997 1,573 582 213 - 5 Business Park 597 181 0 77 339 - - Multiple-User Factory 1,613 738 699 123 52 - - Business 1 137 114 16 7 - - - Business 2 1,476 624 682 117 52 - - Single-User Factory 2,084 1,057 552 320 150 - 5 Business 1 103 85 18 - - - - Business 2 1,981 971 534 320 150 - 5 Business Park 597 181 0 77 339 - - Warehouse Space 919 408 357 144 10 - - Business 1 6 6 - - - - - Business 2 912 401 357 144 10 - -

Note: 1. The figures may not add up due to rounding.

Annex A-5: Statistics on Industrial Units Available for Sale

Table 18: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments by Floor Area as at End of 1Q 2021

Units Available Floor Area (sq m) Total % Sold for Sale Total 414 182 56 < 200 sqm 242 65 73 ≥ 200 sqm 172 117 32

Note: 1. Industrial units available for sale in uncompleted strata-titled developments by region, expected year of completion and land-use zoning were removed from the publication to safeguard data confidentiality.

Annex A-6: List of Major Industrial Projects Completed in 1Q 2021

Gross Floor Project Gross Description and Location of Area Granted Name of Developer Floor Area Project TOP in the (sq m) Quarter (sq m) MULTIPLE-USER FACTORY PROJECT Private Sector

351 On Braddell at 351 Braddell Road BP-Braddell LLP 24,210 24,210

Mactaggart Foodlink at 20 Mactaggart Smooth Venture Pte Ltd 5,300 5,300 Road

Sub-Total 29,510 29,510

Total 29,510 29,510

SINGLE-USER FACTORY PROJECT Private Sector Additions/alterations to single-user Micron Semiconductor Asia 20 259,930 factory at 1 North Coast Drive Operations Pte Ltd (259,930) Lian Beng Construction (1998) 8,800 Single-user factory at 20 Kranji Way 12,930 Pte Ltd (12,930) Single-user factory at 25 Sungei Kadut Redwood Interior Pte Ltd 15,000 15,000 Street 2 Single-user factory at 3A Tuas South Shanaya Environmental Services 5,370 5,370 Street 15 Pte Ltd Lian Hap Xing Kee Edible Oil Single-user factory at 10 Wan Lee Road 1,650 1,650 Trading Pte Ltd Single-user industrial development at 8 PPG Industries (Singapore) Pte 2,430 3,590 Seletar Aerospace Avenue Ltd (3,590)

Sub-Total 298,470 33,270

Total 298,470 33,270

BUSINESS PARK PROJECT Private Sector 8,660 Wilmar International at 28 Biopolis Road Wilmar International Limited 19,790 (9,360)

Sub-Total 19,790 8,660

Total 19,790 8,660

Gross Floor Project Gross Description and Location of Area Granted Name of Developer Floor Area Project TOP in the (sq m) Quarter (sq m) WAREHOUSE PROJECT Private Sector Additions/alterations to warehouse Beni Warehousing Pte Ltd 22,400 22,400 development at 35 Tuas View Crescent Cogent Jurong Island Logistics Hub at 31,500 S H Cogent Logistics Pte Ltd 87,500 15 Tembusu Crescent (33,050) Single-user industrial development at 8 PPG Industries (Singapore) Pte 1,170 3,590 Seletar Aerospace Avenue Ltd (3,590)

Sub-Total 113,490 55,070

Total 113,490 55,070

Note: 1. Includes (i) all new erection, and (ii) extension and additions/alterations projects if the Gross Floor Area (GFA) of the full or partial completion is 7,000 sqm and above. 2. From 4Q 2018 onwards, it will also include partial completion of extension and additions/alterations projects if the project’s overall pipeline GFA is 7,000 sqm and above. 3. Completed projects will not be published in the listing if overall pipeline GFA of the extension and additions/alterations projects fall below 7,000 sqm.

Annex A-7: List of Major Industrial Projects in the Pipeline as at End of 1Q 2021

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP

MULTIPLE-USER FACTORY PROJECT Public Sector

1 North Coast at North Coast Avenue JTC Corporation 37,260 2021

7 North Coast at North Coast Avenue JTC Corporation 44,760 2021

Bulim Square at Bulim Lane 1/2 JTC Corporation 159,400 2022

JTC aeroSpace Three at Seletar Aerospace Link JTC Corporation 15,520 2021

JTC Defu Industrial City at Defu South Street 1 JTC Corporation 325,770 2021

JTC Space @ AMK at Ang Mo Kio Street 64/65 JTC Corporation 116,940 2023

Kranji Green at Kranji Loop JTC Corporation 133,040 2022

Multiple-user factory at Tuas Western Coast JTC Corporation 1,450 2022

TimMac @ Kranji at Kranji Loop/Kranji Road JTC Corporation 143,370 2021

Sub-Total 977,510

MULTIPLE-USER FACTORY PROJECT Private Sector Additions/alterations to existing factory at Ang 7000 AMK LLP 24,960 2021 Mo Kio Avenue 5 Additions/alterations to existing factory at Singapore Technologies 70 2021 Jurong East Street 21 Electronics Limited Additions/alterations to existing factory at Wujie Times Square Pte Ltd 9,130 na Macpherson Road

Ascent @ Gambas at Gambas Way SB (Gambas) Investment Pte Ltd 29,900 2022

CT FoodChain at Pandan Loop CT @ Pandan Pte Ltd 17,250 na

Foodfab@Mandai at Mandai Estate Mandai 7 JV Pte Ltd 9,570 2022

HW Point @ Kranji at Jalan Lam Huat JC Development Pte Ltd 13,320 na

INSPACE at New Industrial Road SLB-Oxley (NIR) Pte Ltd 14,480 na

Ispring at New Industrial Road SB (29NIR) Investment Pte Ltd 9,710 2021

SB (Northview) Investment Pte Liner at Tuas Bay Close 46,200 2022 Ltd

Multiple-user factory at Aljunied Road Asia Headquarters Pte Ltd 1,400 2022

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP

MULTIPLE-USER FACTORY PROJECT Private Sector

Multiple-user factory at Genting Road D Investments Pte Ltd 2,450 na

Multiple-user factory at Jalan Mesin Queensgate Realty Pte Ltd 1,970 na

Multiple-user factory at Kallang Way Mapletree Industrial Trust 80,420 2022

Multiple-user factory at Kim Chuan Drive Goodland Citrine Pte Ltd 3,540 na

Multiple-user factory at Kim Chuan Drive IKI Shop Pte Ltd 1,990 na

Multiple-user factory at Kim Chuan Drive Kims Land Pte Ltd 7,690 na

Multiple-user factory at Kim Chuan Terrace KC Industries Pte Ltd 4,760 na

AirTrunk Singapore Holding Pte Multiple-user factory at Loyang Drive 22,230 na Ltd

Multiple-user factory at Senang Crescent Kah Land Pte Ltd 5,720 na

Multiple-user factory at Tagore Industrial TCSP Pte Ltd 4,090 na Avenue

Multiple-user factory at Tagore Lane NHL Holding Pte Ltd 2,120 na

Multiple-user factory at Tannery Road TAS Services Pte Ltd 9,290 na

RBC Investor Services Trust Multiple-user factory at Tuas South Avenue 2 31,060 na Singapore Ltd Multiple-user industrial development at Genting Metal House Investment Pte Ltd 5,590 na Lane Soon Hock Investment Group Polaris @ Woodlands at Woodlands Avenue 12 52,340 na Pte Ltd SB (Yung Ho) Investment Pte. REVV at Corporation Drive 32,000 na Ltd.

Solaris @Tai Seng at Tai Seng Avenue SB (Ipark) Investment Pte. Ltd. 105,250 2022

Space 21 at Lorong 21 Geylang JVA Katong Pte Ltd 3,560 2022

Trion at Kallang Junction SB (17KJ) Investment Pte Ltd 12,040 na

Tuas South Connection at Tuas South Link 1 Yee Lee Development Pte Ltd 47,700 2021

Ubix at Ubi Road 4 Ascendas REIT 17,100 2021

Sub-Total 628,900

Total 1,606,410

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP

SINGLE-USER FACTORY PROJECT Private Sector Additions/alterations to existing factory at Jalan WCA Pte Ltd 26,440 2023 Ahmad Ibrahim Additions/alterations to existing factory at ExxonMobil Asia Pacific Pte Ltd 19,230 na Jurong Island Highway Additions/alterations to existing factory at North Micron Semiconductor Asia 34,130 2021 Coast Drive Operations Pte Ltd Additions/alterations to existing factory at North Micron Semiconductor Asia 48,960 na Coast Drive Operations Pte Ltd Additions/alterations to existing factory at Antara Koh Pte Ltd 11,300 2021 Pioneer Road Additions/alterations to existing factory at Coim Asia Pacific Pte Ltd 13,290 na Seraya Place Additions/alterations to existing factory at Tuas Becton Dickinson Medical (S) Pte 8,630 2021 Avenue 2 Ltd Additions/alterations to existing factory at Tuas Pacific Refreshments Pte Ltd 8,490 na Bay Drive Additions/alterations to existing factory at Tuas Pfizer Asia Manufacturing Pte 44,990 na South Avenue 6 Ltd Additions/alterations to existing factory at Tuas Neste Singapore Pte Ltd 31,400 na South Lane Additions/alterations to existing industrial ExxonMobil Asia Pacific Pte Ltd 11,670 na development at Pioneer Road Additions/alterations to existing industrial Jurong Shipyard Pte Ltd 27,150 na development at Tuas South Boulevard

Excel Centre at Seletar Aerospace Avenue Excel Venture Capital Pte Ltd 10,320 na

Extension to existing factory at Ang Mo Kio United Engineers Limited 60,180 na Street 64

Koufu Group HQ at Woodlands Height Koufu Pte Ltd 20,390 na

Minwu Industrial Building at Genting Lane Spireworks 1 Pte Ltd 1,510 na

One @ Jalan Lam Huat at Jalan Lam Huat BS Kranji Pte Ltd 12,460 2021

Paradise Group HQ at Defu Lane 10 Paradise Group Holdings Pte Ltd 9,690 na

Samwoh Smart Hub at Kranji Way Samwoh Corporation Pte Ltd 32,150 na

Singapore Gems Building at Kung Chong Road Regal Haus Pte Ltd 2,200 na

Single-user factory at Ayer Merbau Road Baker Hughes Services Pte Ltd 4,140 na

Single-user factory at Benoi Road JP Nelson Equipment Pte Ltd 13,680 na

Hyundai Motor Singapore Pte Single-user factory at Bulim Avenue 86,900 na Ltd

Single-user factory at Chin Bee Road Lim Traders Pte. Ltd. 5,990 na

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP

SINGLE-USER FACTORY PROJECT Private Sector

Single-user factory at Chin Bee Road Omni Aquatic Supplies Pte Ltd 9,820 na

Single-user factory at Defu Lane 10 STT Defu 3 Pte Ltd 14,470 2022

Single-user factory at Genting Lane Memphis 1 Pte Ltd 44,350 na

Single-user factory at Gul Circle Continental Steel Pte Ltd 14,830 na

Single-user factory at Gul Drive H T Glass Pte Ltd 4,810 na

Single-user factory at Jalan Lembah Kallang Knowledge Computers Pte Ltd 1,620 na

China Jingye Construction Single-user factory at Jalan Papan 9,240 na Engineering (S) Pte Ltd

Single-user factory at Joo Koon Circle Supratechnic Pte Ltd 10,260 2021

Equatorial Marine Fuel Single-user factory at Kim Chuan Drive 3,320 na Management Services Pte Ltd

Single-user factory at Kranji Loop Lian Hup Brothers Pte Ltd 13,210 2021

Single-user factory at Kung Chong Road/Chang Stuttgart Auto Pte Ltd 8,800 na Charn Road

Single-user factory at Lok Yang Way Google Asia Pacific Pte Ltd 120,070 2023

Single-user factory at Lorong 21 Geylang Wellprime Pte Ltd 2,090 na

Single-user factory at Loyang Close STT Loyang Pte Ltd 27,240 na

Amazon Asia-Pacific Resource Single-user factory at Loyang Drive 24,130 na Pte Ltd

Single-user factory at Loyang Drive Digital Singapore 2 Pte Ltd 32,050 2021

Single-user factory at Loyang Drive Sapphire-JLE Pte Ltd 5,760 na

Single-user factory at Pandan Loop Ha Li Fa Pte Ltd 3,660 na

Single-user factory at Pioneer Sector Lane OKH Holdings Pte Ltd 12,050 2021

Single-user factory at Quality Road Neo Garden Catering Pte Ltd 28,370 na

Single-user factory at Seletar North Link HL-Sunway JV Pte Ltd 62,480 2021

Export House Lightings (1978) Single-user factory at Senang Crescent 620 2022 Pte Ltd

Single-user factory at Senang Crescent Ping Tan Construction Pte Ltd 650 na

Single-user factory at Senang Crescent Yung Tat Lee Engineering Pte Ltd 650 2021 23

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP

SINGLE-USER FACTORY PROJECT Private Sector Aston Food & Beverage Single-user factory at Senoko Crescent 5,170 na Specialities Pte Ltd

Single-user factory at Senoko Drive TC Import & Export Pte Ltd 7,920 na

Single-user factory at Senoko Loop Tak Product & Services Pte Ltd 6,660 na

Single-user factory at Senoko Way Pollisum Engineering Pte Ltd 5,000 na

Amazon Asia-Pacific Resource Single-user factory at Sunview Drive 20,690 na Pte Ltd

Single-user factory at Sunview Drive Equinix Singapore Pte Ltd 31,890 na

Single-user factory at Sunview Way Malkoha Pte Ltd 171,340 na

Single-user factory at Tagore Lane Chip Lee Jewellery Pte Ltd 970 na

Single-user factory at Tagore Lane Chuing Xin Enginerring Pte Ltd 1,010 na

Single-user factory at Tagore Lane Dong Jian (Singapore) Pte Ltd 2,540 na

Single-user factory at Tagore Lane LBD Engineering Pte Ltd 1,110 na

Single-user factory at Tagore Lane Packagers Pte Ltd 810 na

Quek & Quek Civil Engineering Single-user factory at Tagore Lane 960 na Pte Ltd

Single-user factory at Tanjong Penjuru Kim Ee Logistics Pte Ltd 6,530 na

Single-user factory at Tannery Lane Jincai Holdings Pte Ltd 1,820 na

Single-user factory at Tuas Avenue 12 Opto-Pharm Pte Ltd 6,910 na

Single-user factory at Tuas Avenue 13 AST Group Pte Ltd 7,100 2021

Single-user factory at Tuas Avenue 13 World Metal Group Pte Ltd 5,670 2021

Single-user factory at Tuas Avenue 18A Progressive Builders Pte Ltd 2,820 na

Single-user factory at Tuas Basin Lane Banyan Marine (S) Pte Ltd 650 na

Single-user factory at Tuas Basin Link Avance Living Pte Ltd 6,270 na

Single-user factory at Tuas South Avenue 2 Chem-Solv Technologies Pte Ltd 6,510 na

Single-user factory at Tuas South Avenue 2 JE Synergy Pte Ltd 13,410 na

Single-user factory at Tuas South Avenue 3 Hydrochem (S) Pte Ltd 48,630 na 24

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP

SINGLE-USER FACTORY PROJECT Private Sector

Single-user factory at Tuas South Link 2 Hiap Shing Construction Pte. Ltd. 3,570 2021

Single-user factory at Tuas South Link 2 Wellbuilt Pte Ltd 4,270 2021

Asia Metal Engineering & Single-user factory at Tuas South Link 3 3,910 na Trading Pte Ltd

Single-user factory at Tuas South Link 3 Bonco Enterprise Pte Ltd 5,010 na

G.T.H. Engineering & Single-user factory at Tuas South Link 3 6,570 2021 Construction Pte Ltd

Single-user factory at Tuas South Link 3 Goh Sin Guan Huat Pte Ltd 3,570 2021

Asiaone Logistics & Single-user factory at Tuas South Street 9 6,030 na Warehousing Pte. Ltd.

Single-user factory at Tuas South Street 15 Wah & Hua Pte Ltd 10,580 na

Single-user factory at Woodlands Industrial Whye Wah Development & 12,220 2023 Park E2 Construction Pte Ltd Single-user factory at Woodlands Industrial Microsoft Operations Pte Ltd 32,530 na Park E9

Single-user factory at Woodlands Terrace F & G Food Pte Ltd 3,210 na

Single-user factory at Woodlands Terrace Hiao Giap Holdings Pte Ltd 3,090 na

Single-user industrial development at Banyan Arkema Pte Ltd 17,860 na Avenue

Single-user industrial development at Bulim Walk Shimano Singapore Pte Ltd 35,600 na

Single-user industrial development at Chin Bee OJJ Foods Pte Ltd 14,250 2022 Avenue Single-user industrial development at Tanjong 2TPC Pte Ltd 11,780 na Penjuru Crescent Single-user industrial development at Tuas Peck Tiong Choon Pte Ltd 7,040 2024 Avenue 13

Single-user industrial development at Tuas Link 3 F&N Foods Pte Ltd 5,620 na

Single-user industrial development at Tuas Link 4 3M Innovation Singapore Pte Ltd 27,500 na

Single-user industrial development at Tuas West Air Liquide Singapore Pte Ltd 1,920 na Avenue

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP SINGLE-USER FACTORY PROJECT Private Sector Tee Yih Jia Food Hub at Senoko Drive/Senoko Tee Yih Jia Food Manufacturing 79,580 2021 Road Pte Ltd

Sub-Total 1,657,940

Total 1,657,940

BUSINESS PARK PROJECT Public Sector Additions/alterations to existing business park JTC Corporation 13,270 2021 development at Cleantech Loop

Business park development at Punggol Way JTC Corporation 226,650 2024

CleanTech Three at Cleantech Loop JTC Corporation 61,760 2021

Sub-Total 301,680

BUSINESS PARK PROJECT

Private Sector Business park development at Changi Business Kajima Development Pte Ltd 12,970 na Park Crescent

Business park development at Media Close Ascendas REIT 36,770 na

Business park development at North Buona HB Universal Pte Ltd 35,160 na Vista Drive Business park development at Science Park CapitaLand Singapore (BP&C) Pte 112,530 na Drive Ltd Business park development at Science Park Science Park Property Trustee 28,820 na Drive Pte Ltd

Razer SEA HQ at One-north Crescent Snakepit-BP LLP 16,460 na

Surbana Jurong Capital (JID) Pte Surbana Jurong Campus at Cleantech Loop 41,350 2021 Ltd

Wilmar International at Biopolis Road Wilmar International Limited 9,800 na

Sub-Total 293,860

Total 595,540

WAREHOUSE PROJECT Public Sector

JTC Logistics Hub @ Gul at Gul Circle JTC Corporation 141,070 2021

Sub-Total 141,070

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP WAREHOUSE PROJECT Private Sector Additions/alterations to existing factory at Jalan WCA Pte Ltd 2,030 2023 Ahmad Ibrahim Additions/alterations to existing industrial C M M Marketing Management 10,210 na development at Mandai Link Pte Ltd Additions/alterations to existing industrial Tuas South Avenue Pte Ltd 80,130 2022 development at Tuas South Avenue 14 Additions/alterations to existing industrial Tuas South Avenue Pte Ltd 20,700 na development at Tuas South Avenue 14 Cogent Jurong Island Logistics Hub at Tembusu S H Cogent Logistics Pte Ltd 54,450 2021 Crescent FPG Fresh Food Distribution Centre at Sunview NTUC Fairprice Co-operative Ltd 69,610 na Road Multiple-user industrial development at Genting Metal House Investment Pte Ltd 260 na Lane

Singapore Gems Building at Kung Chong Road Regal Haus Pte Ltd 1,850 na

Single-user industrial development at Banyan Arkema Pte Ltd 740 na Avenue Single-user industrial development at Bulim Shimano Singapore Pte Ltd 6,750 na Walk Single-user industrial development at Chin Bee OJJ Foods Pte Ltd 3,830 2022 Avenue Single-user industrial development at Tanjong 2TPC Pte Ltd 33,860 na Penjuru Crescent Single-user industrial development at Tuas Peck Tiong Choon Pte Ltd 10,280 2024 Avenue 13 Single-user industrial development at Tuas F&N Foods Pte Ltd 29,010 na Link 3 Single-user industrial development at Tuas 3M Innovation Singapore Pte Ltd 2,880 na Link 4 Single-user industrial development at Tuas West Air Liquide Singapore Pte Ltd 710 na Avenue Tee Yih Jia Food Hub at Senoko Drive/Senoko Tee Yih Jia Food Manufacturing 20,420 2021 Road Pte Ltd

Warehouse development at Pandan Crescent Pandan Crescent Pte Ltd 119,780 na

Warehouse development at Penjuru Lane Soon Bee Huat Trading Pte Ltd 24,320 2022

Warehouse development at Pesek Road SPCI Advance Pte Ltd 9,100 2021

Warehouse development at Pioneer Sector 1 Soilbuild Business Park REIT 70,330 2022

Warehouse development at Senoko Loop Tiong Nam Logistics (S) Pte Ltd 24,940 2021

Warehouse development at Senoko Way Angkasa Daehan Steel Pte Ltd 3,210 na

Warehouse development at Sungei Kadut Star Furniture Pte Ltd 19,050 2022 Street 2

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP WAREHOUSE PROJECT Private Sector

Warehouse development at Sunview Road Allied Sunview Pte Ltd 116,810 na Warehouse development at Tagore Industrial Ang Mo Supermarket Pte Ltd 2,550 na Avenue Warehouse development at Tuas Avenue 11 Neo Hardware Pte Ltd 7,780 na

Sub-Total 745,590

Total 886,660

Note: 1. The pipeline projects include (i) all new erections and (ii) extension and additions/ alterations projects with Gross Floor Area (GFA) of 7,000 sqm and above. Projects that obtain partial completion would continue to be included until they are fully completed. 2. Projects would be removed from the pipeline listing when (i) the GFA of extension and additions/ alterations projects fall below 7,000 sqm or (ii) projects are withdrawn/ aborted. 3. Major mixed-use development projects with industrial use are also included. 4. The GFA of the projects would be adjusted accordingly if amendments are made to the development applications or if the planning approvals are lapsed. 5. The expected year of final TOP is shown as “NA” for projects where the developer has not consented to the release of the information or if the information was not obtained from the developer directly.

Annex B: Statistics on JTC’s Prepared Industrial Land and Ready-Built Facilities

Table 1: Gross Allocation and Returns by Product Segment (1Q 2020 – 1Q 2021)

Gross Allocation Returns 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2020 2020 2020 2020 2021 2020 2020 2020 2020 2021 Prepared Industrial Land (ha) Total1 87.1 48.2 41.1 25.5 21.6 66.6 38.7 17.2 25.4 24.9 Generic Land 27.2 31.5 19.2 8.7 20.5 44.4 20.7 15.7 13.5 24.5 Tuas Biomedical Park - - 16.2 12.9 - 8.8 - - 7.5 - Jurong Island 42.7 16.2 4.4 1.4 1.0 12.0 17.4 1.3 1.3 0.0 Wafer Fab Park 0.2 0.6 - - - 1.2 0.5 0.1 - - Business Park 17.0 - 1.4 - 0.1 0.1 - - 3.0 0.4 Logistics Park - - - 2.6 ------Seletar Aerospace ------0.2 - - Park

Ready-Built Facilities (‘000 sqm) Total 59.5 106.3 51.9 50.0 87.0 44.3 38.1 38.8 55.7 53.7 High-Rise Space 32.8 43.3 39.2 39.4 61.0 27.6 26.8 26.3 26.7 27.7 Business Park Space 2.7 0.7 1.8 2.1 0.2 5.8 0.4 1.8 0.7 0.3 Land-Based Factory 19.7 57.1 8.2 3.4 18.7 4.2 5.2 4.5 21.8 19.3 Workshop Space 4.3 5.2 2.8 5.2 7.2 6.8 5.6 6.2 6.5 6.4

Note: 1. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme.

Table 2: Gross Allocation by Allocation Mode (1Q 2020 – 1Q 2021)

Gross Allocation

1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Prepared Industrial Land (ha) Total1 87.1 48.2 41.1 25.5 21.6 Direct Allocation2 73.8 44.8 40.8 20.0 17.0 Tender/ Launches3 13.3 3.4 0.3 5.6 4.5

Ready-Built Facilities (‘000 sqm) Total 59.5 106.3 51.9 50.0 87.0 Direct Allocation2 43.2 85.7 41.5 27.9 52.4 Tender/ Launches3 16.3 20.7 10.4 22.1 34.7

Note: 1. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme. 2. Refers to land/ space allocated directly by JTC. 3. Refers to land/ space allocated through public tenders or launches.

Table 3: Gross Allocation by Allocation Type (1Q 2020 – 1Q 2021)

Gross Allocation 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Prepared Industrial Land (ha) Total1 87.1 48.2 41.1 25.5 21.6 Lease 23.2 29.2 18.6 2.8 1.9 Tenancy - - - - 0.5 Licence 63.9 19.0 22.5 22.7 19.2

Note: 1. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme.

Table 4: Gross Allocation and Returns of Prepared Industrial Land by Industry (1Q 2020 – 1Q 2021)

Gross Allocation (ha) Returns (ha) 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2020 2020 2020 2020 2021 2020 2020 2020 2020 2021 Total1 87.1 48.2 41.1 25.5 21.6 66.6 38.7 17.2 25.4 24.9 Manufacturing 46.7 23.1 24.6 12.9 2.2 46.8 20.8 2.3 9.6 11.9 Electronics 0.1 0.6 - - - 0.9 - - - - Precision Engineering 0.2 - 0.0 - - 0.4 - 0.8 0.1 - Chemicals 36.6 10.4 1.9 1.1 0.8 12.0 6.8 1.1 1.6 - Biomedical Manufacturing - - 15.1 11.1 - 8.8 - - 7.5 - Transport Engineering 3.5 12.1 3.5 - 0.2 24.4 1.0 0.2 0.4 4.6 General Manufacturing 6.3 - 4.0 0.7 1.2 0.1 13.0 0.2 - 7.3 Industries Mfg Related & Supporting 40.4 25.1 16.5 12.6 19.3 19.7 17.9 14.8 15.7 13.0 Information & - 0.1 - 0.0 ------Communication Professional, Scientific & 1.6 - 1.4 4.7 - 2.2 0.8 0.1 - 0.8 Technical Activities Transportation & Storage 0.0 11.4 0.4 0.4 0.5 7.0 3.0 9.7 2.7 4.9 Water Supply, Sewerage & - 1.5 0.2 - 0.0 1.3 0.8 - 0.0 - Waste Management

Construction 14.3 3.4 3.7 6.6 13.4 5.5 1.1 0.1 5.7 3.5 Real Estate/ Financial Activities/ Holding - 1.1 8.0 - 4.1 - 1.6 1.3 4.4 2.4 Companies Other Services 24.5 7.7 2.8 0.8 1.2 3.7 10.6 3.6 3.0 1.5

Note: 1. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme.

Table 5: Gross Allocation and Returns of Ready-Built Facilities by Industry (1Q 2020 – 1Q 2021)

Gross Allocation (‘000 sqm) Returns (‘000 sqm) 1Q 2Q 3Q 4Q 1Q 1Q 2Q 3Q 4Q 1Q 2020 2020 2020 2020 2021 2020 2020 2020 2020 2021 Total 59.5 106.3 51.9 50.0 87.0 44.3 38.1 38.8 55.7 53.7 Manufacturing 28.4 25.4 6.2 20.4 31.2 12.2 13.7 13.8 11.2 19.5 Electronics 5.0 0.0 - - 0.1 0.1 - 0.9 0.1 0.6 Precision Engineering 9.7 1.9 3.9 4.6 10.6 4.0 3.2 3.9 3.8 6.1 Chemicals 0.6 14.0 0.1 - 4.7 0.7 0.3 0.5 0.1 4.5 Biomedical Manufacturing - 1.4 0.3 1.4 2.9 - 0.3 0.2 0.3 0.2 Transport Engineering 8.6 1.4 0.2 0.3 4.6 1.8 3.4 5.1 2.2 1.4 General Manufacturing 4.6 6.7 1.6 14.0 8.3 5.7 6.5 3.2 4.6 6.6 Industries Mfg Related & Supporting 31.1 80.9 45.7 29.6 55.9 32.1 24.4 25.0 44.5 34.2 Information & 2.2 1.2 0.5 1.8 1.5 1.4 1.1 2.0 1.1 1.0 Communication Professional, Scientific & 3.8 1.1 3.1 4.3 4.2 1.9 4.9 2.6 1.7 1.5 Technical Activities Transportation & Storage 0.2 44.7 20.5 1.6 1.5 0.3 1.0 0.2 0.7 0.7 Water Supply, Sewerage & 0.1 - - 0.4 0.1 0.2 - - - - Waste Management Construction 6.0 6.7 9.0 9.1 8.3 6.7 4.0 5.6 8.5 5.7 Real Estate/ Financial Activities/ Holding 0.5 0.1 1.4 0.7 3.4 0.9 0.2 1.1 0.1 0.9 Companies Other Services 18.2 27.2 11.3 11.7 36.9 20.7 13.2 13.5 32.4 24.4

Table 6: Total Allocated and Supply by Product Segment (Prepared Industrial Land) (1Q 2020 – 1Q 2021)

Total Allocated as at

1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Prepared Industrial Land (ha) Total1 7,223.9 7,241.0 7,268.0 7,265.0 7,261.1 Generic Land 3,831.0 3,841.1 3,844.6 3,837.3 3,833.2 Tuas Biomedical Park 148.1 148.1 164.3 169.7 169.7 Jurong Island 1,801.7 1,800.5 1,803.6 1,805.1 1,806.0 Wafer Fab Park 151.2 151.8 151.8 151.8 151.8 Business Park 101.4 100.6 101.9 98.8 98.6 Logistics Park 150.1 150.1 150.1 152.6 152.6 Seletar Aerospace Park 49.0 49.0 48.8 48.8 48.8 Land for JTC Ready-Built Facilities 991.3 999.8 1,002.9 1,000.8 1,000.3 (RBF)

Supply

1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Prepared Industrial Land (ha) Total1 8,258.7 8,269.9 8,311.4 8,314.6 8,324.6 Generic Land 4,261.2 4,268.1 4,300.8 4,290.9 4,292.4 Tuas Biomedical Park 231.2 231.2 231.2 231.2 231.2 Jurong Island 1,978.8 1,978.8 1,979.4 1,979.4 1,978.4 Wafer Fab Park 274.3 274.3 274.3 274.3 274.3 Business Park 127.4 127.4 127.4 131.7 131.7 Logistics Park 157.3 157.3 157.3 157.3 157.3 Seletar Aerospace Park 66.0 63.4 63.4 63.4 63.4 Land for JTC Ready-Built Facilities 1,162.5 1,169.3 1,177.7 1,186.4 1,195.9 (RBF)

Note: 1. Includes Prepared Industrial Land that are tendered out as part of the IGLS programme. Data on Prepared Industrial Land from IGLS is based on date of allocation instead of date of tender award. Date of allocation is normally a few months after date of tender award.

Table 7: Total Allocated and Supply by Product Segment (Ready-Built Facilities) (1Q 2020 – 1Q 2021)

Total Allocated as at

1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Ready-Built Facilities (‘000 sqm) Total 5,128.5 5,196.6 5,210.1 5,204.4 5,237.7 High-Rise Space 1,490.1 1,506.9 1,519.8 1,532.3 1,565.5 Business Park Space 267.6 267.5 267.9 269.3 269.2 Land-Based Factory 2,885.2 2,937.1 2,940.8 2,922.4 2,921.8 Workshop Space 485.6 485.1 481.7 480.4 481.2

Supply

1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Ready-Built Facilities (‘000 sqm) Total 6,335.8 6,411.9 6,489.4 6,504.4 6,527.2 High-Rise Space 1,873.1 1,940.4 1,940.4 1,940.4 1,938.9 Business Park Space 313.8 313.6 313.6 313.6 313.6 Land-Based Factory 3,610.5 3,619.2 3,696.5 3,711.6 3,735.4 Workshop Space 538.3 538.7 538.8 538.8 539.2

Table 8: Occupancy Rate of Ready-Built Facilities (1Q 2020 – 1Q 2021)

1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Ready-Built Facilities (%) Overall 80.9 81.0 80.3 80.0 80.2 High-Rise Space 79.5 77.7 78.3 79.0 80.7 Business Park Space 85.3 85.3 85.4 85.9 85.9 Land-Based Factory 79.9 81.2 79.6 78.7 78.2 Workshop Space 90.2 90.1 89.4 89.2 89.2