Quarterly Market Report Industrial Properties

QUARTERLY MARKET REPORT

INDUSTRIAL PROPERTIES

THIRD QUARTER 2019

CONTENTS

Page

Market Report for the Industrial Property Market (3Q 2019) 1 Executive Summary 1 2 Market Trends in 3Q 2019 2 3 Allocation of JTC’s Ready-Built Facilities (RBF) 6 4 Allocation of Industrial Land 6 5 Outlook on Future Supply 7 6 Conclusion 9

Annex – Industrial Property Market Statistics A1 Price Statistics 10 A2 Rental Statistics 14 A3 Stock and Vacancy Statistics 17 A4 Potential Supply Statistics 24 A5 Statistics on Industrial Units Available for Sale 26 A6 List of Major Industrial Projects Completed in 3Q 2019 27 A7 List of Major Industrial Projects in the Pipeline as at End of 3Q 2019 29 B Statistics on JTC’s Prepared Industrial Land and Ready-Built Facilities 37

Singapore Industrial Properties Quarterly Market Report 3rd Quarter 2019

Prices and rentals of industrial space remained relatively stable.

Occupancy rate Price index of all Rental index of all Total of industrial space industrial space industrial space industrial space

Change over previous quarter

0.0% points* 0.1% 0.0% 0.4 million sqm

Change over previous year

0.2%points* 0.1% 0.1% 1.0 million sqm

Future industrial space supply

To be completed by 2019 Beyond 2019 Uncompleted strata units for sale

~0.3 million sqm ~4.3 million sqm ~200 units

*Refers to absolute change over previous quarter/year.

MARKET REPORT FOR THE INDUSTRIAL PROPERTY MARKET (3Q 2019)

EXECUTIVE SUMMARY

1. In 3Q 2019, the occupancy rate of the overall industrial property market remained unchanged at 89.3%. However, compared to a year ago, occupancy rate of the overall industrial property market rose by 0.2 percentage points.

2. Prices and rentals of industrial spaces remained stable. In 3Q 2019, price index of overall industrial space increased marginally by 0.1% as compared to the previous quarter while the rental index remained unchanged during the same period. Compared to a year ago, the price index fell by 0.1% while the rental index rose by 0.1%. An overview of price, rental and occupancy rate movements for the quarter is shown in Exhibit 1.

Exhibit 1: Price, Rental and Occupancy Rate Movements in 3Q 2019 % Change 2Q 2019 3Q 2019 Over Over Previous Previous Quarter Year All Industrial 89.8 89.9 0.1 -0.1 Price Multiple-User Factory 93.4 93.4 0.0 -0.5 Single-User Factory 79.7 79.9 0.3 0.6 All Industrial 91.0 91.0 0.0 0.1 Multiple-User Factory 89.0 89.0 0.0 -0.1 Rental Single-User Factory 96.3 96.8 0.5 1.0 Business Park 113.1 113.2 0.1 1.1 Warehouse 84.9 84.7 -0.2 -0.5 All Industrial 89.3% 89.3% 0.0 0.2 Multiple-User Factory 87.2% 87.1% -0.1 1.6 Occupancy Single-User Factory 90.9% 91.1% 0.2 0.1 Rate1 Business Park 86.0% 86.2% 0.2 0.2 Warehouse 88.7% 88.1% -0.6 -1.3 Note: 1 The % change refers to absolute change over previous year/quarter.

3. For the rest of 2019 and 2020, another 340,000 sqm and 1.9 million sqm of industrial spaces is estimated to come on-stream respectively. As a comparison, the average annual supply and demand of industrial spaces in the past three years were around 1.3 million and 1.2 million sqm respectively.

4. For industrialists looking to own production spaces, other than the available units in the completed strata-titled developments, there were also about 200 units in uncompleted developments that were available for sale at the end of 3Q 2019. These units totalled about 120,000 sqm of space, and will provide options for industrialists to site or relocate their operations to these developments.

MARKET TRENDS IN 3Q 2019

5. In 3Q 2019, the occupancy rate for the overall industrial property market remained unchanged on a quarter-on-quarter basis at 89.3%. Compared to a year ago, the occupancy rate rose by 0.2 percentage points. (Exhibit 2a).

Exhibit 2a: Occupancy Rate of Industrial Space Change in Occupancy Stock Rate (%) ('000 sqm) 800 94.0

600 92.0

400 90.0 200

88.0 0

-200 86.0

2016Q1 2012Q3 2013Q1 2013Q3 2014Q1 2014Q3 2015Q1 2015Q3 2016Q3 2017Q1 2017Q3 2018Q1 2018Q3 2019Q1 2019Q3

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

6. For multiple-user factory space, the occupancy rate fell marginally by 0.1 percentage points on a quarter-on-quarter basis to 87.1%. On a year-on-year basis, the occupancy rate increased by 1.6 percentage points. (Exhibit 2b).

Exhibit 2b: Occupancy Rate of Multiple-User Factory Space Change in Stock Occupancy ('000 sqm) Rate (%) 250 92.0

200 90.0 150 88.0 100 86.0 50

0 84.0

-50 82.0

2016Q1 2012Q3 2013Q1 2013Q3 2014Q1 2014Q3 2015Q1 2015Q3 2016Q3 2017Q1 2017Q3 2018Q1 2018Q3 2019Q1 2019Q3

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

7. Rentals of industrial spaces remained stable. In 3Q 2019, the rental indices of both overall industrial space and multiple-user factory space remained unchanged on a quarter-on-quarter 2

basis. Compared to a year ago, the rental index for overall industrial space rose by 0.1% while the rental index for multiple-user factory space fell by 0.1% (Exhibits 3a and 3b).

Exhibit 3a: Rental Indices of Industrial Space Rental Index 2012Q4=100 120 See Exhibit 3b

100

0 2009Q3 2010Q3 2011Q3 2012Q3 2013Q3 2014Q3 2015Q3 2016Q3 2017Q3 2018Q3 2019Q3 All Industrial Space Multiple-User Factory Space

Exhibit 3b: Rental Indices of Industrial Space Rental Index 2012Q4=100 All Industrial Space Multiple-User Factory Space 96

92 90.9 90.9 90.9 91.0 91.0

88 89.1 89.0 88.9 89.0 89.0

84 2018Q3 2018Q4 2019Q1 2019Q2 2019Q3

8. The table below shows the rental indices for multiple-user factory space by planning region and land-use zoning (Exhibit 3c):

Exhibit 3c: Rental Indices of Multiple-User Factory Space by Planning Region and Land-Use Zoning (4Q 2012=100) % Change 3Q 4Q 1Q 2Q 3Q Over 2018 2018 2019 2019 2019 Previous Quarter Planning Region Central 91.0 90.6 90.4 90.3 90.3 0.0 North 93.4 93.7 93.9 94.4 93.8 -0.6 West 77.4 77.5 77.4 77.5 77.7 0.3 East 90.1 90.4 90.5 90.4 91.0 0.7 North-East 82.8 82.9 82.7 83.0 82.3 -0.8 Land-Use Zoning Business 1 90.4 90.1 89.9 89.9 89.9 0.0 Business 2 81.6 81.8 82.1 82.3 82.2 -0.1

9. Prices of industrial spaces also remained relatively stable. In 3Q 2019, on a quarter-on- quarter basis, the price index for overall industrial space increased by 0.1% and the price index for multiple-user factory space remained unchanged. Compared to a year ago, the price indices of overall industrial space and multiple-user factory space fell by 0.1% and 0.5% respectively. (Exhibits 4a and 4b).

Exhibit 4a: Price Indices of Industrial Space Price Index 2012Q4=100 120 See Exhibit 4b

100

0 2009Q3 2010Q3 2011Q3 2012Q3 2013Q3 2014Q3 2015Q3 2016Q3 2017Q3 2018Q3 2019Q3 All Industrial Space Multiple-User Factory Space

Exhibit 4b: Price Indices of Industrial Space

Price Index (2012Q4=100) All Industrial Space 98 Multiple-User Factory Space

93.9 93.8 93.6 93.4 93.4 94

90 90.0 90.0 89.9 89.8 89.9

86 2018Q3 2018Q4 2019Q1 2019Q2 2019Q3

10. The table below shows the price indices for multiple-user factory space by planning region, land-use zoning and remaining tenure (Exhibit 4c):

Exhibit 4c: Price Indices of Multiple-User Factory Space by Planning Region, Land-Use Zoning and Remaining Tenure (4Q 2012=100) % Change 3Q 4Q 1Q 2Q 3Q Over 2018 2018 2019 2019 2019 Previous Quarter Planning Region Central 98.1 97.1 97.8 97.4 97.9 0.5 North 83.0 82.2 81.4 81.8 81.4 -0.5 West 83.4 84.2 83.3 83.0 83.3 0.4 Others 86.3 87.3 86.5 86.1 85.0 -1.3 Land-Use Zoning Business 1 95.3 93.9 93.9 94.0 94.4 0.4 Business 2 79.6 80.7 80.3 79.3 78.5 -1.0 Remaining Tenure <30 years 85.9 87.5 88.8 87.1 85.8 -1.5 31-60 years 85.4 83.0 82.3 83.2 83.3 0.1 >60 years 99.4 100.3 100.4 98.6 99.3 0.7

11. Transaction volume of industrial properties, estimated based on caveats lodged for industrial properties, fell by about 20% compared to a quarter ago but was 2% higher compared to a year ago (Exhibit 5).

Exhibit 5: Transaction Volume of Industrial Properties

Number of Caveats Lodged New Sale Resale Sub Sale 500

400

300

200

100

0 2016Q3 2016Q4 2017Q1 2017Q2 2017Q3 2017Q4 2018Q1 2018Q2 2018Q3 2018Q4 2019Q1 2019Q2 2019Q3

ALLOCATION OF JTC’S READY-BUILT FACILITIES (RBF)

12. In 3Q 2019, JTC allocated a total of 37,700 sqm of RBF space to industrialists, which included 22,800 sqm of high-rise space and 7,900 sqm of land-based factory space. Among the high-rise space that was allocated, about one-third was in JTC’s newer developments such as JTC Poultry Processing Hub @ Buroh, trendspace, JTC Space @ Tuas, JTC MedTech Hub @ MedTech Park, JTC Space @ Tampines North and LaunchPad @ one-north.

13. Total RBF returns in 3Q 2019 was 40,900 sqm, of which 31,200 sqm was high-rise space and 6,600 sqm was workshop space. About 57% of the total returns was due to natural expiries or companies consolidating their operations.

ALLOCATION OF INDUSTRIAL LAND

14. In 3Q 2019, the tender for one Industrial Government Land Sales (IGLS) site located at Tuas South Link 3 had closed. The site had a land area of 0.45 ha and was targeted at single- user development with Business 2 use. The site was awarded with a successful bid price of $337 psm ppr. An overview of the successful tender prices for IGLS sites targeted at single-user developments is shown in Exhibit 6.

Exhibit 6: Successful Tender Prices for IGLS Sites Targeted at Single-User Developments

Successful Tender Price, $ psm ppr

4Q 2017 1Q 2018 3Q 2018 4Q 2018 1Q 2019 3Q 2019 600 (2) (1) 400 (1) (4) (1) (1) (3) (1) (3) (1) 200

0 Oct Nov Feb Mar Jul Nov Dec Jan Mar Aug 2017 2017 2018 2018 2018 2018 2018 2019 2019 2019

Tender Closing Month : Tuas : Tampines : Sungei Kadut : Woodlands

Note: # Number in bracket refers to the number of bids.

15. The tender for an IGLS site targeted at multiple-user development also closed. It is a 1.2 ha site at Senoko Drive (food land) that is zoned for Business 2 use. However, the site was not awarded as the two bids received were below the reserve price.

16. Besides IGLS, JTC also allocated 73.8 ha of prepared industrial land (PIL) in 3Q 2019. About 70% of the land (52.0 ha) was allocated to manufacturing companies, while the remaining was allocated to companies in the manufacturing-related and supporting industries. In the same period, 75.8 ha of PIL was returned to JTC, with natural expiries accounting for about 68% of the total returns.

OUTLOOK ON FUTURE SUPPLY

17. For the rest of 2019, another 0.3 million sqm of industrial space is estimated to come on- stream. In 2020, around 1.9 million sqm of industrial space is estimated to be completed. As a comparison, the average annual supply and demand of industrial spaces were around 1.3 million sqm and 1.2 million sqm respectively in the past three years (Exhibit 7).

Exhibit 7: Upcoming Supply of Industrial Space

New Supply (Historical and Upcoming) ('000 sqm) 2,500

2,000

1,500

1,000

500

0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 >2021 Historical Upcoming

Note: For industrial space, the figures for upcoming supply are in terms of gross floor area, whereas historical changes in available stock (i.e. historical new supply) and historical changes in occupied stock (i.e. historical new demand) are in terms of net floor area.

18. For the multiple-user factory segment, about 30,000 sqm and 850,000 sqm is estimated to come on-stream for the rest of 2019 and 2020 respectively. As a comparison, the annual supply and demand of multiple-user factory space for the past three years were around 298,000 sqm and 258,000 sqm respectively.

19. At the end of 3Q 2019, there were around 200 units, totalling about 120,000 sqm, in uncompleted strata-titled developments still available for sale. About one in two units were of 200 to 299 sqm in size (Exhibit 8).

Exhibit 8: Industrial Units Available for Sale in Uncompleted Strata-Titled Developments

No. of Units By Floor Area

100 88

50 36

0 < 200 sqm 200 – 299 sqm Others

20. Seven JTC developments, totalling around 860,000 sqm, are expected to be completed in the next 12 months (Exhibit 9).

Exhibit 9: JTC’s Projects Expected to Complete in the Next 12 Months as at End of 3Q 2019 Gross Floor Area Expected Completion Project (sqm) Date JTC Bedok Food City 105,370 1st Qtr 2020

JTC Logistic Hub @ Gul 134,320 1st Qtr 2020

Business Park development 61,980 2nd Qtr 2020

Multiple-user factory development 37,970 2nd Qtr 2020

Multiple-user factory development 45,810 2nd Qtr 2020

JTC Defu Industrial City 326,840 3rd Qtr 2020

TimMac @ Kranji 143,270 3rd Qtr 2020

CONCLUSION

21. Prices and rentals of industrial space remained stable in tandem with occupancy rates. JTC will continue to monitor the market closely to ensure a stable and sustainable supply of land and space to support the needs of industrialists.

22. Moving forward, JTC will continue to develop new industrial facilities and estates that will meet the needs of industrialists, support their transformation and upgrading, and enhance their productivity and competitiveness.

9 Annex A – Industrial Property Market Statistics

Annex A-1: Price Statistics

Table 1: Quarterly Price Index of Industrial Space (3Q 2018 – 3Q 2019)

% Change Over Market Segment 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 Previous Quarter

All Industrial 90.0 90.0 89.9 89.8 89.9 0.1 Multiple-User 93.9 93.8 93.6 93.4 93.4 0.0 Factory Planning Region Central Region 98.1 97.1 97.8 97.4 97.9 0.5 North Region 83.0 82.2 81.4 81.8 81.4 -0.5 West Region 83.4 84.2 83.3 83.0 83.3 0.4 Other Regions 86.3 87.3 86.5 86.1 85.0 -1.3 Land-Use Zoning Business 1 95.3 93.9 93.9 94.0 94.4 0.4 Business 2 79.6 80.7 80.3 79.3 78.5 -1.0 Remaining Tenure < 30 Years 85.9 87.5 88.8 87.1 85.8 -1.5 31 – 60 Years 85.4 83.0 82.3 83.2 83.3 0.1 > 60 Years 99.4 100.3 100.4 98.6 99.3 0.7 Single-User Factory 79.4 79.6 79.6 79.7 79.9 0.3

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

Table 2: Quarterly Price Index of Industrial Space (4Q 2016 – 3Q 2019)

Price Index Period All Industrial Multiple-User Factory Single-User Factory 4Q 2016 95.4 98.7 85.4 1Q 2017 93.3 96.9 82.8 2Q 2017 91.8 95.4 81.7 3Q 2017 91.0 94.6 80.8 4Q 2017 90.0 94.0 79.3 1Q 2018 89.9 93.8 79.3 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

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

Table 3: Quarterly Price Index of Multiple-User Factory by Planning Region (4Q 2016 – 3Q 2019)

Price Index of Multiple-User Factory Period Central Region North Region West Region Other Regions 4Q 2016 98.5 90.3 88.7 89.7 1Q 2017 97.2 88.2 87.4 88.0 2Q 2017 95.8 86.2 86.5 86.5 3Q 2017 94.6 85.9 85.6 85.9 4Q 2017 95.2 85.2 83.9 86.2 1Q 2018 95.3 84.5 83.9 86.2 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

Note: 1. The price index is computed using fixed weights based on 2015 transaction values before 1st Quarter 2019. From 1st Quarter 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 (4Q 2016 – 3Q 2019)

Price Index of Multiple-User Factory

Period Remaining Tenure Land-Use Zoning 31 – 60 ≤ 30 Years > 60 Years Business 1 Business 2 Years 4Q 2016 91.6 93.2 95.2 95.7 87.8 1Q 2017 90.6 90.6 94.0 95.2 85.1 2Q 2017 88.9 89.2 92.9 93.7 83.7 3Q 2017 88.1 88.3 92.6 93.4 82.6 4Q 2017 86.1 87.9 94.7 94.0 81.0 1Q 2018 86.2 86.7 96.0 94.2 80.4 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

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

Annex A-2: Rental Statistics

Table 5: Quarterly Rental Index of Industrial Space (3Q 2018 – 3Q 2019)

% Change Over Market Segment 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 Previous Quarter

All Industrial 90.9 90.9 90.9 91.0 91.0 0.0 Multiple-User 89.1 89.0 88.9 89.0 89.0 0.0 Factory Planning Region Central Region 91.0 90.6 90.4 90.3 90.3 0.0 North Region 93.4 93.7 93.9 94.4 93.8 -0.6 West Region 77.4 77.5 77.4 77.5 77.7 0.3 East Region 90.1 90.4 90.5 90.4 91.0 0.7 Northeast Region 82.8 82.9 82.7 83.0 82.3 -0.8 Land-Use Zoning Business 1 90.4 90.1 89.9 89.9 89.9 0.0 Business 2 81.6 81.8 82.1 82.3 82.2 -0.1 Single-User Factory 95.8 96.4 95.8 96.3 96.8 0.5 Business Park 112.0 111.9 112.9 113.1 113.2 0.1 Warehouse 85.1 85.0 85.1 84.9 84.7 -0.2

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 1st Quarter 2019. From 1st Quarter 2019, the weights used are fixed using 2018 transaction values.

Table 6: Quarterly Rental Index of Industrial Space (4Q 2016 – 3Q 2019)

Rental Index

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

4Q 2016 93.8 91.7 100.9 105.4 91.0 1Q 2017 93.0 90.7 99.9 104.3 90.5 2Q 2017 92.3 89.9 100.1 106.5 88.5 3Q 2017 91.3 89.2 99.1 106.8 86.7 4Q 2017 91.2 89.1 98.3 108.9 85.8 1Q 2018 91.1 89.1 97.5 111.5 85.5 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

Table 7: Quarterly Rental Index of Multiple-User Factory by Planning Region and Land-Use Zoning (4Q 2016 – 3Q 2019)

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 4Q 2016 92.0 94.3 84.2 92.8 85.0 91.4 87.6 1Q 2017 91.6 92.6 82.7 92.5 83.8 90.8 86.0 2Q 2017 90.9 92.2 82.0 90.6 83.1 90.2 84.6 3Q 2017 90.6 91.0 80.8 90.1 81.8 89.8 83.1 4Q 2017 91.8 89.2 79.1 90.6 81.7 90.4 81.5 1Q 2018 92.0 88.7 78.1 90.5 83.0 90.6 81.0 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

Annex A-3: Stock and Vacancy Statistics

Table 8: Stock and Vacancy Rate of Industrial Space (2Q 2019 – 3Q 2019)

Over Previous As at As at Quarter Property Type Market Indicator 2Q 2019 3Q 2019 Absolute % Change Change Available (‘000 sq m) 49,278 49,631 353 0.7 All Industrial Occupied (‘000 sq m) 44,030 44,324 294 0.7 Space Vacant (‘000 sq m) 5,248 5,306 58 1.1 Vacancy Rate (%) 10.7 10.7 0.0 - Available (‘000 sq m) 11,365 11,363 -2 - Multiple-User Occupied (‘000 sq m) 9,912 9,894 -18 -0.2 Factory Vacant (‘000 sq m) 1,454 1,469 15 1.0 Vacancy Rate (%) 12.8 12.9 0.1 - Available (‘000 sq m) 24,864 25,104 240 1.0 Single-User Occupied (‘000 sq m) 22,600 22,878 278 1.2 Factory Vacant (‘000 sq m) 2,264 2,226 -38 -1.7 Vacancy Rate (%) 9.1 8.9 -0.2 - Available (‘000 sq m) 2,200 2,200 - - Occupied (‘000 sq m) 1,892 1,896 4 0.2 Business Park Vacant (‘000 sq m) 308 303 -5 -1.6 Vacancy Rate (%) 14.0 13.8 -0.2 - Available (‘000 sq m) 10,849 10,963 114 1.1 Occupied (‘000 sq m) 9,627 9,656 29 0.3 Warehouse Vacant (‘000 sq m) 1,222 1,307 85 7.0 Vacancy Rate (%) 11.3 11.9 0.6 -

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.

Table 9: Stock and Vacancy Rate of All Industrial Space (4Q 2016 – 3Q 2019)

Stock (‘000 sq m) Period Vacancy Rate (%) Available Occupied Vacant 4Q 2016 46,282 41,407 4,875 10.5 1Q 2017 46,691 41,719 4,972 10.6 2Q 2017 47,331 41,983 5,348 11.3 3Q 2017 47,691 42,237 5,455 11.4 4Q 2017 48,223 42,886 5,337 11.1 1Q 2018 48,188 42,871 5,316 11.0 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

Table 10: Stock and Vacancy Rate of Multiple-User Factory Space (4Q 2016 – 3Q 2019)

Stock (‘000 sq m) Period Vacancy Rate (%) Available Occupied Vacant 4Q 2016 10,572 9,225 1,347 12.7 1Q 2017 10,700 9,305 1,395 13.0 2Q 2017 10,821 9,353 1,468 13.6 3Q 2017 10,912 9,450 1,462 13.4 4Q 2017 11,080 9,588 1,492 13.5 1Q 2018 11,182 9,675 1,507 13.5 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

Table 11: Stock and Vacancy Rate of Single-User Factory Space (4Q 2016 – 3Q 2019)

Stock (‘000 sq m) Period Vacancy Rate (%) Available Occupied Vacant 4Q 2016 24,100 21,912 2,188 9.1 1Q 2017 24,224 21,958 2,266 9.4 2Q 2017 24,308 21,928 2,380 9.8 3Q 2017 24,410 21,998 2,412 9.9 4Q 2017 24,569 22,151 2,418 9.8 1Q 2018 24,419 22,082 2,336 9.6 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

Table 12: Stock and Vacancy Rate of Business Park Space (4Q 2016 – 3Q 2019)

Stock (‘000 sq m) Period Vacancy Rate (%) Available Occupied Vacant 4Q 2016 2,140 1,777 363 17.0 1Q 2017 2,140 1,798 342 16.0 2Q 2017 2,142 1,836 306 14.3 3Q 2017 2,142 1,840 302 14.1 4Q 2017 2,142 1,854 288 13.4 1Q 2018 2,140 1,822 318 14.9 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

Table 13: Stock and Vacancy Rate of Warehouse Space (4Q 2016 – 3Q 2019)

Stock (‘000 sq m) Period Vacancy Rate (%) Available Occupied Vacant 4Q 2016 9,470 8,493 977 10.3 1Q 2017 9,629 8,660 969 10.1 2Q 2017 10,061 8,867 1,194 11.9 3Q 2017 10,227 8,949 1,278 12.5 4Q 2017 10,433 9,294 1,139 10.9 1Q 2018 10,447 9,292 1,155 11.1 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

Table 14: Available Stock and Occupancy Rate of Newly Completed Private Multiple-User Factory Space (4Q 2016 – 3Q 2019)

Year of Completion

Period 2016 2017 2018 2019 2016 2017 2018 2019

Available Stock (‘000 sq m) Occupancy Rate (%) 4Q 2016 386 - - - 16.3 - - - 1Q 2017 386 103 - - 36.6 0.5 - - 2Q 2017 419 190 - - 42.3 2.8 - - 3Q 2017 419 203 - - 49.8 25.6 - - 4Q 2017 419 252 - - 66.5 34.6 - - 1Q 2018 419 252 111 - 70.1 48.0 7.3 - 2Q 2018 419 252 248 - 70.7 58.1 15.0 - 3Q 2018 419 252 294 - 74.3 67.0 22.0 - 4Q 2018 419 252 294 - 79.5 69.8 32.3 - 1Q 2019 419 252 294 15 80.5 69.4 55.8 13.2 2Q 2019 419 252 293 57 80.7 73.1 63.1 8.3 3Q 2019 419 252 293 61 80.7 76.3 67.0 11.0

Note: 1. The available space refers to the total amount of nett 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.

Table 15: Available Stock of Industrial Space by Type of Industrial Space and Land-Use Zoning as at End of 3Q 2019

‘000 sq m nett Land-Use Zoning Industrial Space Total Floor Area Business 1 Business 2 All Industrial Space 49,631 11,312 36,119 Multiple-User Factory 11,363 6,482 4,881

Single-User Factory 25,104 2,972 22,132

Business Park 2,200 - -

Warehouse 10,963 1,858 9,105

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 3Q 2019

‘000 sq m gross All Industrial Space Total 2019 2020 2021 2022 2023 >2023 Total 4,678 336 1,909 558 1,527 347 - Under Construction 3,603 336 1,671 289 1,047 260 - Planned 1,074 - 239 268 480 87 - Written Permission 452 - 158 77 218 - - Provisional Permission 445 - 65 186 175 19 - Others 177 - 16 6 87 68 - Multiple-User Factory 1,718 28 850 217 593 30 - Under Construction 1,469 28 774 157 510 - - Planned 249 - 75 60 83 30 - Written Permission 76 - 75 0 - - - Provisional Permission 91 - - 60 31 - - Others 82 - - - 52 30 - Single-User Factory 1,848 247 617 266 660 57 - Under Construction 1,194 247 476 87 384 - - Planned 654 - 141 179 276 57 - Written Permission 354 - 63 74 218 - - Provisional Permission 205 - 62 99 24 19 - Others 94 - 16 6 34 38 - Business Park 373 18 144 68 - 144 - Under Construction 346 18 144 41 - 144 - Planned 27 - 0 26 - - - Written Permission 0 - 0 - - - - Provisional Permission 26 - - 26 - - - Others ------Warehouse 739 44 299 7 273 117 - Under Construction 594 44 276 4 153 117 - Planned 145 - 22 3 120 - - Written Permission 22 - 19 3 - - - Provisional Permission 123 - 3 - 120 - - Others ------

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

Table 17: Supply of Industrial Space by Property Type, Usage and Expected Year of Completion as at End of 3Q 2019

‘000 sq m gross All Industrial Space Total 2019 2020 2021 2022 2023 >2023 Total 4,678 336 1,909 558 1,527 347 - Business 1 324 31 125 107 62 - - Business 2 3,981 288 1,641 384 1,465 204 - Business Park 373 18 144 68 - 144 - Multiple-User Factory 1,718 28 850 217 593 30 - Business 1 173 5 99 44 24 - - Business 2 1,545 23 750 173 569 30 - Single-User Factory 1,848 247 617 266 660 57 - Business 1 133 14 21 61 37 - - Business 2 1,715 233 596 205 623 57 - Business Park 373 18 144 68 - 144 - Warehouse 739 44 299 7 273 117 - Business 1 18 12 5 1 - - - Business 2 721 32 294 6 273 117 -

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 3Q 2019

Units Available for Floor Area (sq m) Total % Sold Sale Total 324 195 40 < 200 106 36 66 200 – 299 122 88 28 Others 96 71 26

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 3Q 2019

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

PROJECT Private Sector 5,560 Harper Point at 25 Harper Road NS Property (Harper) Pte Ltd 7,770 (7,770)

Sub-Total 7,770 5,560

Total 7,770 5,560

SINGLE-USER FACTORY PROJECT Private Sector Automobile Association of AA Centre at 2 Kung Chong Road 7,170 7,170 Singapore Additions/alterations to single-user 23,210 Google Asia Pacific Pte Ltd 66,370 factory at 2 Jurong West Street 23 (66,370) Additions/alterations to single-user Micron Semiconductor Asia 259,910 259,950 factory at 1 North Coast Drive Operations Pte Ltd (259,910) Additions/alterations to single-user Lockson Hydraulics & 7,840 7,840 factory at 2 Wan Lee Road Engineering Pte Ltd Additions/alterations to single-user 760 industrial development at 10, 12 Siltronic Silicon Wafer Pte Ltd 12,780 (1,890) Tampines Industrial Avenue 5 Additions/alterations to single-user 5,910 industrial development at 80 Tuas Jurong Shipyard Pte Ltd 42,520 (39,430) South Boulevard Additions/alterations to single-user Sembcorp Marine Integrated 2,130 industrial development at 80 Tuas 53,910 Yard Pte Ltd (53,910) South Boulevard Cheng Yew Heng Candy Factory 7,210 Innovate 360 at 9 Chin Bee Drive 8,180 Pte Ltd (8,180) 13,440 Logos Food21 at 21 Tuas West Drive Tuas West Drive Pte Ltd 28,840 (28,840) T.S. Property Investments Pte One Tat Seng at 1 Tannery Lane 1,820 1,820 Ltd Single-user industrial development at 3,760 Boustead Projects E&C Pte Ltd 7,540 98 Tuas Bay Drive (7,540)

Sub-Total 496,920 333,160

Total 496,920 333,160

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

Additions/alterations to single-user 1,140 industrial development at 10, 12 Siltronic Silicon Wafer Pte Ltd 12,780 (1,890) Tampines Industrial Avenue 5

Additions/alterations to single-user Sembcorp Marine Integrated 23,590 industrial development at 80 Tuas South 53,910 Yard Pte Ltd (53,910) Boulevard

Cogent Jurong Island Logistics Hub at 1,480 S H Cogent Logistics Pte Ltd 87,500 15 Tembusu Crescent (1,480) Cheng Yew Heng Candy Factory 970 Innovate 360 at 9 Chin Bee Drive 8,180 Pte Ltd (8,180) Radha Exports Building at 118 Pioneer Radha Exports Pte Ltd 35,280 35,280 Road Single-user industrial development at 98 3,780 Boustead Projects E&C Pte Ltd 7,540 Tuas Bay Drive (7,540)

SRS Building at 5 Kung Chong Road SRS Autohub Pte Ltd 1,880 1,880

Warehouse development at 20 Alps Schenker Singapore (Pte) Ltd 51,430 51,430 Avenue

Sub-Total 258,500 119,550

Total 258,500 119,550

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 2018Q4 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 3Q 2019

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP MULTIPLE-USER FACTORY PROJECT Public Sector

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

JTC Bedok Food City at Bedok North Avenue 4 JTC Corporation 105,370 2020

JTC Defu Industrial City at Defu South Street 1 JTC Corporation 326,840 2020

JTC Space @ AMK at Ang Mo Kio Street 64/65 JTC Corporation 116,940 2022

Multiple-user factory at Kranji Loop JTC Corporation 134,030 2021

Multiple-user factory at North Coast Avenue JTC Corporation 37,970 2020

Multiple-user factory at North Coast Avenue JTC Corporation 45,810 2020

Multiple-user factory at Seletar Aerospace JTC Corporation 15,360 2020 Link/Crescent

TimMac @ Kranji at Kranji Loop/Kranji Road JTC Corporation 143,270 2020

Sub-Total 1,084,990

MULITPLE-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 Wujie Times Square Pte Ltd 9,140 na Macpherson Road

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

Kai Lim Builders Merchant Pte D'Innova at Lorong 23 Geylang 2,690 na Ltd Extension and additions/alterations to existing Singapore Technologies 20,810 2020 factory at Jurong East Street 21 Electronics Limited Food Concept @ 239 Pandan Loop at Pandan JVA Pandan Pte Ltd 7,030 2020 Loop

Ispring at New Industrial Road Soilbuild Group Holdings Ltd 9,710 na

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

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

Multiple-user factory at Alexandra Road BottomSlim New York Pte. Ltd. 3,430 na

Multiple-user factory at Braddell Road BP-Braddell LLP 24,190 na

Multiple-user factory at Jalan Lam Huat JC Development Pte Ltd 13,320 na

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

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

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

AirTrunk Singapore Holding Pte Multiple-user factory at Loyang Drive 37,370 na Ltd

Multiple-user factory at Macpherson Road Ascendas REIT 15,560 na

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

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

Multiple-user factory at Tai Seng Avenue SB (Ipark) Investment Pte. Ltd. 105,250 2022

RBC Investor Services Trust Multiple-user factory at Tuas South Avenue 2 31,020 na Singapore Ltd

Multiple-user factory at Ubi Road 4 Ascendas REIT 17,100 na

Multiple-user industrial development at Genting Metal House Investment Pte Ltd 5,590 na Lane Multiple-user industrial development at Tuas AIMS AMP Capital Industrial 18,710 na Avenue 2 REIT SB (Yung Ho) Investment Pte. REVV at Corporation Drive 32,000 na Ltd.

Tuas South Connection at Tuas South Link 1 Yee Lee Development Pte Ltd 47,160 2020

West Spring at Tuas Bay Drive SB (Pioneer) Investment Pte Ltd 26,000 na

Sub-Total 542,020

Total 1,627,010

SINGLE-USER FACTORY PROJECT Private Sector Additions/alterations to existing factory at ExxonMobil Asia Pacific Pte Ltd 19,180 na Jurong Island Highway Additions/alterations to existing factory at Linde Gas Singapore Pte Ltd 12,390 na Jurong Island Highway Additions/alterations to existing factory at Technics Steel Pte Ltd 8,660 na Loyang Way Additions/alterations to existing factory at North Micron Semiconductor Asia 40 2019 Coast Drive Operations Pte Ltd Additions/alterations to existing factory at Pasir Systems on Silicon 19,970 na Ris Industrial Drive 1 Manufacturing Co. Pte Ltd Additions/alterations to existing factory at Greif Singapore Pte. Ltd. 7,820 2019 Pioneer Sector 3 Additions/alterations to existing factory at Airbus Singapore Pte Ltd 7,790 na Seletar Aerospace Crescent

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 SC Auto Industries (S) Pte Ltd 100 na Senoko Road Additions/alterations to existing factory at Coim Asia Pacific Pte Ltd 13,290 na Seraya Place Additions/alterations to existing factory at Siltronic Silicon Wafer Pte Ltd 9,630 na Tampines Industrial Avenue 5 Additions/alterations to existing factory at Tuas Pacific Refreshments Pte Ltd 8,430 na Bay Drive Additions/alterations to existing factory at Tuas Neste Singapore Pte Ltd 34,720 na South Lane Additions/alterations to existing industrial ExxonMobil Asia Pacific Pte Ltd. 11,670 na development at Pioneer Road

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 Extension to existing industrial development at Hanwell Holdings Limited 320 na Jalan Boon Lay Extension to existing industrial development at Jurong Shipyard Pte Ltd 3,100 na Tuas South Boulevard

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

Single-user factory at Aljunied Road Asia Headquarters Pte Ltd 1,400 na

Single-user factory at Benoi Road JP Nelson Equipment Pte Ltd 14,040 na

Single-user factory at Chang Charn Road EuroSports Auto Pte Ltd 4,530 na

Single-user factory at Chin Bee Crescent Sincere Food Investment Pte Ltd 2,870 na

Single-user factory at Defu Lane 10 STT Defu 3 Pte Ltd 9,840 na

Single-user factory at Defu South Street 1 Teambuild (ICPH) Pte Ltd 10,800 na

Single-user factory at Genting Lane Spireworks 1 Pte Ltd 1,510 na

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

Single-user factory at Gul Crescent Sin Ghee Huat Corporation Ltd 7,270 2019

Single-user factory at Gul Drive H T Glass Pte Ltd 4,650 na

Single-user factory at Jalan Lam Huat BS Kranji Pte Ltd 12,460 2020

Single-user factory at Jalan Lembah Kallang Knowledge Computers Pte Ltd 1,600 na

Single-user factory at Jalan Papan Liang Yun Hung Services 1,570 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 Hong Hup Machinery & Single-user factory at Joo Koon Circle 4,950 na Construction Pte. Ltd

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

Single-user factory at Kian Teck Avenue MH Industries Pte Ltd 420 na

Single-user factory at Kranji Road Lian Hup Brothers Pte Ltd 11,910 2021

Lian Beng Construction (1998) Single-user factory at Kranji Way 17,370 na Pte Ltd

Single-user factory at Kranji Way Samwoh Corporation Pte Ltd 32,090 na

Single-user factory at Kung Chong Road/Chang Stuttgart Auto Pte Ltd 8,800 2019 Charn Road

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

Single-user factory at Loyang Close STT Loyang Pte Ltd 27,230 na

Amazon Asia-Pacific Resource Single-user factory at Loyang Drive 24,060 na Pte Ltd

Single-user factory at Loyang Drive Digital Singapore 2 Pte Ltd 32,040 na

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

Single-user factory at Pandan Loop Ha Li Fa Pte Ltd 3,710 na

Single-user factory at Pandan Loop X Properties Inc Pte Ltd 22,460 2019

Single-user factory at Pioneer Sector Lane OKH Holdings Pte Ltd 12,780 2020

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

Single-user factory at Seletar Aerospace BP-BBD2 Pte Ltd 20,320 na Heights

Single-user factory at Seletar North Link HL-Sunway JV Pte Ltd 62,370 2021

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

Yung Tat Lee Engineering Pte Single-user factory at Senang Crescent 650 na Ltd Aston Food & Beverage Single-user factory at Senoko Crescent 5,150 na Specialities Pte Ltd

Single-user factory at Shipyard Crescent Kim Hock Corporation Pte Ltd 6,200 na

Single-user factory at Sungei Kadut Street 2 Redwood Interior Pte Ltd 15,000 2019

Single-user factory at Sunview Drive Equinix Singapore Pte Ltd 20,950 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 Sunview Way Malkoha Pte Ltd 171,340 na

Quek & Quek Civil Engineering Single-user factory at Tagore Lane 960 na Pte Ltd Single-user factory at Tampines Industrial AAC Optics Solutions Pte Ltd 18,900 na Crescent

Single-user factory at Tanjong Penjuru Kim Ee Logistics Pte Ltd 6,380 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 6,970 na

Single-user factory at Tuas Avenue 18A Progressive Builders Pte Ltd 2,800 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

Single-user factory at Tuas South Avenue 16/ Air Liquide Singapore Pte Ltd 8,810 na Tuas South Link 4 Hiap Shing Construction Pte. Single-user factory at Tuas South Link 2 3,840 2021 Ltd.

Single-user factory at Tuas South Link 2 Wellbuilt Pte Ltd 4,160 2020

Single-user factory at Tuas South Link 3 L.S. Construction Pte Ltd 4,260 na

Single-user factory at Tuas South Link 3 LNT Coating Pte Ltd 3,120 2020

Single-user factory at Tuas South Link 3 Wee Hur Construction Pte Ltd 7,970 2019

G.T.H. Engineering & Single-user factory at Tuas South Link 4 6,570 2019 Construction Pte Ltd

Single-user factory at Tuas South Street 9 Asiagroup Leasing Pte Ltd 6,040 na

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

Single-user factory at Tuas South Street 15 EMS Energy Limited 5,860 na

Shanaya Environmental Services Single-user factory at Tuas South Street 15 5,370 na Pte Ltd

Single-user factory at Tuas South Street 15 Wah & Hua Pte Ltd 10,610 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 Lian Hap Xing Kee Edible Oil Single-user factory at Wan Lee Road 1,650 na Trading Pte Ltd ASM Front-End Manufacturing Single-user factory at Woodlands Height 37,370 na Singapore Pte. Ltd.

Single-user factory at Woodlands Terrace Boon Tong Kee Pte Ltd 5,480 na

Single-user industrial development at Bulim Shimano Singapore Pte Ltd 32,110 2020 Drive Single-user industrial development at Chin Bee OJJ Foods Pte Ltd 14,320 2020 Avenue Single-user industrial development at Seletar PPG Industries (Singapore) Pte 1,800 na Aerospace Avenue Ltd Single-user industrial development at Senoko Tee Yih Jia Food Manufacturing 69,630 na Drive/Senoko Road Pte Ltd Single-user industrial development at Tuas Hup Hin Property (S) Pte Ltd 34,040 na Avenue 5 Single-user industrial development at Tuas View Veolia ES Singapore Industrial 12,210 na Circuit Pte Ltd

Tiong Lian Building at Pandan Loop Tiong Lian Food Pte Ltd 8,430 na

Sub-Total 1,403,260

Total 1,403,260

BUSINESS PARK PROJECT Public Sector Additions/alterations to existing business park JTC Corporation 12,780 2020 development at Cleantech Loop

Business park development at Punggol Way JTC Corporation 143,500 2023

CleanTech Three at Cleantech Loop JTC Corporation 61,980 2020

Sub-Total 218,260

BUSINESS PARK PROJECT Private Sector Additions/alterations to existing business park Pension Real Estate Singapore 17,730 na development at International Business Park Pte Ltd

Business park development at Biopolis Road Wilmar International Limited 16,580 na

Business park development at Cleantech PBA Innovation Centre Pte Ltd 26,490 na Heights

Business park development at Cleantech Loop SJ Capital (JID) Pte Ltd 41,350 2021

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

Private Sector

Business park development at One-north Ascendas REIT 35,960 na Avenue Business park development at One-north Snakepit-BP LLP 16,410 na Crescent

Sub-Total 154,520

Total 372,780

WAREHOUSE PROJECT Public Sector

JTC Logistics Hub @ Gul at Gul Circle JTC Corporation 134,320 2020

Sub-Total 134,320

WAREHOUSE PROJECT Private Sector Additions/alterations to existing factory at Malaysia Dairy Industries Pte Ltd 7,720 na Howard Road Additions/alterations to existing factory at Airbus Singapore Pte Ltd 8,290 na Seletar Aerospace Crescent Additions/alterations to existing factory at Siltronic Silicon Wafer Pte Ltd 1,250 na Tampines Industrial Avenue 5 Additions/alterations to existing industrial C M M Marketing Management 10,210 2019 development at Mandai Link Pte Ltd Additions/alterations to existing industrial LOGOS SE Asia Pte Ltd 99,750 2022 development at Tuas South Avenue 14 Cogent Jurong Island Logistics Hub at Tembusu S H Cogent Logistics Pte Ltd 86,010 2020 Crescent Extension to existing industrial development at Hanwell Holdings Limited 50 na Jalan Boon Lay Multiple-user industrial development at Genting Metal House Investment Pte Ltd 260 na Lane Multiple-user industrial development at Tuas AIMS AMP Capital Industrial 6,190 na Avenue 2 REIT Single-user industrial development at Bulim Shimano Singapore Pte Ltd 10,430 2020 Drive Single-user industrial development at Chin Bee OJJ Foods Pte Ltd 2,860 2020 Avenue Single-user industrial development at Seletar PPG Industries (Singapore) Pte 1,760 na Aerospace Avenue Ltd Single-user industrial development at Senoko Tee Yih Jia Food Manufacturing 16,510 na Drive/Senoko Road Pte Ltd Single-user industrial development at Tuas Hup Hin Property (S) Pte Ltd 16,120 na Avenue 5 Single-user industrial development at Tuas View Veolia ES Singapore Industrial 1,130 na Circuit Pte Ltd

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

Tiong Lian Building at Pandan Loop Tiong Lian Food Pte Ltd 4,280 na

Warehouse development at Jalan Lembah G'zox Detailing Singapore Pte. 1,690 na Kallang Ltd.

Warehouse development at Pandan Crescent Pandan Crescent Pte Ltd 120,200 na

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

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 Tagore Industrial Kay Lim Construction & Trading 4,170 na Avenue Pte Ltd Warehouse development at Tampines Industrial Blu World Pte Ltd 6,580 2019 Drive Warehouse development at Tampines Industrial Lim Wen Heng Construction Pte 6,550 na Drive Ltd

Warehouse development at Tuas Avenue 11 Neo Hardware Pte Ltd 7,780 2020

Warehouse development at Tuas South Link 3 Hexacon Construction Pte Ltd 4,070 na

Sub-Total 562,270

Total 696,590

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 have obtained 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 expected year of final TOP is shown as “NA” for some projects as the developer has not consented to the release of the information.

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

Table 1: Gross Allocation and Returns by Product Segment (3Q 2018 – 3Q 2019)

Gross Allocation1 Returns1 3Q 4Q 1Q 2Q 3Q 3Q 4Q 1Q 2Q 3Q 2018 2018 2019 2019 2019 2018 2018 2019 2019 2019 Prepared Industrial Land (ha) Total2 89.6 134.8 84.2 91.2 73.8 51.6 157.2 54.6 69.1 75.8 Generic Land 62.1 122.4 72.7 31.6 48.2 26.6 138.0 44.6 53.1 35.5 Tuas Biomedical Park - - - 8.8 - 1.3 0.7 - - - Jurong Island 17.4 4.6 7.8 47.8 22.6 18.5 12.2 6.4 12.6 39.9 Wafer Fab Park 3.4 0.9 1.0 2.2 0.1 0.2 3.2 1.2 3.4 0.3 Business Park 1.3 3.5 2.7 0.8 2.8 3.0 - 2.3 - - Logistics Park ------Seletar Aerospace 5.4 3.3 - - 0.1 1.9 3.1 0.1 - - Park

Ready-Built Facilities (‘000 sqm) Total 73.9 41.1 38.6 64.8 37.7 58.1 33.6 47.0 50.2 40.9 High-Rise Space3 31.2 25.3 20.0 48.6 22.8 21.6 19.6 34.6 32.0 31.2 Business Park Space 3.4 2.4 1.6 1.0 0.5 8.5 1.1 2.0 0.5 1.1 Land-Based Factory4 35.7 8.9 11.5 10.9 7.9 21.6 10.0 5.7 10.2 2.0 Workshop Space 3.5 4.5 5.5 4.2 6.5 6.4 3.0 4.7 7.5 6.6

Note: 1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB. 2. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme. 3. Renamed as High-Rise Space (from Flatted Factory) to cover the various types of high-rise space JTC has. 4. Renamed as Land-based Factory (from Standard Factory) to cover the various types of land-based facilities that JTC has.

Table 2: Gross Allocation by Allocation Mode (3Q 2018 – 3Q 2019)

Gross Allocation1

3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 Prepared Industrial Land (ha) Total2 89.6 134.8 84.2 91.2 73.8 Direct Allocation3 71.7 129.3 65.6 89.2 68.2 Tender/ Launches4 18.0 5.4 18.6 2.1 5.6

Ready-Built Facilities (‘000 sqm) Total 73.9 41.1 38.6 64.8 37.7 Direct Allocation3 54.8 19.1 16.4 41.5 14.9 Tender/ Launches4 19.0 22.0 22.2 23.2 22.8

Note: 1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB. 2. Excludes Prepared Industrial Land that is tendered out as part of the IGLS programme. 3. Refers to land/ space allocated directly by JTC. 4. Refers to land/ space allocated through public tenders or launches.

Table 3: Gross Allocation by Allocation Type (3Q 2018 – 3Q 2019)

1 Gross Allocation 3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 Prepared Industrial Land (ha) Total2 89.6 134.8 84.2 91.2 73.8 Lease 20.8 20.6 20.2 2.7 44.3 Tenancy - - 1.0 - 1.0 Licence 68.9 114.1 63.0 88.5 28.4

Note: 1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB. 2. 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 (3Q 2018 – 3Q 2019)

Gross Allocation1 (ha) Returns1 (ha) 3Q 4Q 1Q 2Q 3Q 3Q 4Q 1Q 2Q 3Q 2018 2018 2019 2019 2019 2018 2018 2019 2019 2019 Total2 89.6 134.8 84.2 91.2 73.8 51.6 157.2 54.6 69.1 75.8 Manufacturing 41.2 6.5 58.8 57.3 52.0 22.1 18.8 29.8 41.5 55.2 Electronics 0.9 0.8 0.8 - - - - 0.8 1.5 - Precision Engineering 1.4 3.1 7.0 0.4 0.1 1.6 1.5 3.1 5.6 0.6 Chemicals 23.5 2.6 34.3 30.4 51.9 19.5 3.6 21.2 31.9 31.6 Biomedical - - - 8.8 ------Manufacturing Transport Engineering - - 1.0 17.6 - - 2.4 2.6 - 22.5 General Manufacturing 15.4 - 15.7 - - 1.0 11.3 2.0 2.4 0.5 Industries Mfg Related & Supporting 48.4 128.3 25.3 33.9 21.8 29.4 138.5 24.8 27.6 20.6 Information & 7.3 0.9 1.5 1.5 - 4.9 0.9 - 1.5 - Communication Professional, Scientific & 2.8 1.3 2.2 11.1 0.1 2.0 2.8 2.6 2.3 8.1 Technical Activities Transportation & 4.6 4.4 10.9 2.4 4.0 6.4 6.7 11.4 4.6 4.4 Storage Water Supply, Sewerage 3.6 - - - - 0.1 0.0 0.3 0.0 - & Waste Management Construction 16.5 101.5 6.3 10.4 15.1 6.5 112.0 5.5 12.1 3.7 Real Estate/ Financial Activities/ Holding 1.9 15.8 3.9 1.2 - 4.5 8.0 2.9 3.3 1.0 Companies Other Services 11.6 4.4 0.6 7.3 2.6 5.1 8.1 2.1 3.8 3.4

Note: 1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB. 2. 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 (3Q 2018 – 3Q 2019)

Gross Allocation1 (‘000 sqm) Returns1 (‘000 sqm) 3Q 4Q 1Q 2Q 3Q 3Q 4Q 1Q 2Q 3Q 2018 2018 2019 2019 2019 2018 2018 2019 2019 2019 Total 73.9 41.1 38.6 64.8 37.7 58.1 33.6 47.0 50.2 40.9 Manufacturing 44.5 13.6 13.3 39.6 8.1 21.0 8.5 21.3 17.0 10.5 Electronics 1.5 - - - 0.1 0.2 0.1 1.6 0.1 0.2 Precision Engineering 25.1 6.2 2.8 2.8 1.1 3.1 1.3 5.9 5.9 2.3 Chemicals 7.6 2.9 1.4 0.3 - 4.9 0.4 - 2.8 0.6 Biomedical - 1.5 0.8 0.3 0.3 - 0.7 11.4 1.1 1.5 Manufacturing Transport Engineering 2.8 0.1 5.3 12.4 2.9 2.5 3.3 0.2 0.3 1.8 General Manufacturing 7.5 3.0 3.1 23.9 3.7 10.4 2.8 2.2 6.8 4.1 Industries Mfg Related & Supporting 29.4 27.5 25.2 25.2 29.6 37.1 25.1 25.7 33.1 30.4 Information & 1.6 2.7 1.4 2.3 1.3 0.9 2.8 1.2 1.6 1.4 Communication Professional, Scientific & 4.2 3.3 1.6 2.1 3.7 6.4 4.3 2.0 4.9 2.9 Technical Activities Transportation & 1.7 0.7 0.9 3.1 0.4 0.4 0.8 1.3 0.9 0.5 Storage Water Supply, Sewerage - - 0.4 - 0.2 0.1 - 2.5 - - & Waste Management Construction 3.9 5.7 8.2 6.0 6.3 5.4 2.5 5.4 9.9 6.5 Real Estate/ Financial Activities/ Holding 1.4 1.9 - 0.5 0.1 0.5 0.8 - 0.3 0.7 Companies Other Services 16.6 13.2 12.8 11.2 17.6 23.5 14.0 13.3 15.5 18.4

Note: 1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB.

Table 6: Total Allocated and Supply by Product Segment (Prepared Industrial Land) (3Q 2018 – 3Q 2019)

Total Allocated1 as at

3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 Prepared Industrial Land (ha) Total2 7,138.3 7,123.1 7,159.8 7,195.2 7,181.6 Generic Land 3,829.6 3,816.7 3,847.7 3,826.9 3,842.2 Tuas Biomedical Park 148.8 148.1 148.1 157.0 157.0 Jurong Island 1,742.7 1,735.1 1,736.6 1,771.0 1,753.7 Wafer Fab Park 156.8 154.5 154.3 153.0 152.8 Business Park 77.2 80.7 81.1 82.0 84.4 Logistics Park 150.1 150.1 150.1 150.1 150.1 Seletar Aerospace Park 48.9 49.0 48.9 48.9 49.0 Land for JTC Ready-Built Facilities 984.4 988.8 993.0 1,006.4 992.4 (RBF)

Supply1

3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 Prepared Industrial Land (ha) Total2 8,180.0 8,184.2 8,236.5 8,222.5 8,211.7 Generic Land 4,238.2 4,237.9 4,260.9 4,257.8 4,241.2 Tuas Biomedical Park 212.9 212.9 212.9 212.9 212.9 Jurong Island 1,957.3 1,957.2 1,974.1 1,974.1 1,973.0 Wafer Fab Park 274.2 274.2 274.2 274.2 274.2 Business Park 122.5 122.5 127.3 129.6 129.8 Logistics Park 157.3 157.3 157.3 157.3 157.3 Seletar Aerospace Park 66.0 66.0 66.0 66.0 66.0 Land for JTC Ready-Built Facilities 1,151.5 1,156.2 1,163.8 1,150.5 1,157.2 (RBF)

Note: 1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB. 2. 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) (3Q 2018 – 3Q 2019)

Total Allocated1 as at

3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 Ready-Built Facilities (‘000 sqm) Total 5,105.8 5,101.5 5,103.7 5,117.8 5,115.0 High-Rise Space2 1,474.3 1,479.6 1,475.7 1,491.7 1,483.7 Business Park Space 269.3 270.6 270.2 270.7 270.1 Land-Based Factory3 2,868.3 2,855.9 2,861.7 2,862.5 2,868.4 Workshop Space 493.9 495.4 496.2 492.8 492.8

Supply1

3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 Ready-Built Facilities (‘000 sqm) Total 6,121.6 6,133.9 6,216.5 6,266.8 6,298.2 High-Rise Space2 1,795.8 1,797.0 1,873.4 1,873.4 1,873.3 Business Park Space 314.4 313.8 313.8 313.8 313.8 Land-Based Factory3 3,474.2 3,486.0 3,492.1 3,542.2 3,573.3 Workshop Space 537.2 537.2 537.2 537.4 537.8

Table 8: Occupancy Rate of Ready-Built Facilities1 (3Q 2018 – 3Q 2019)

3Q 2018 4Q 2018 1Q 2019 2Q 2019 3Q 2019 Ready-Built Facilities (%) Overall 83.4 83.2 82.1 81.7 81.2 High-Rise Space2 82.1 82.3 78.8 79.6 79.2 Business Park Space 85.7 86.2 86.1 86.3 86.1 Land-Based Factory3 82.6 81.9 81.9 80.8 80.3 Workshop Space 91.9 92.2 92.4 91.7 91.6

Notes: 1. With effect from 1Q 2018, the coverage includes industrial properties transferred from HDB. 2. Renamed as High-Rise Space (from Flatted Factory) to cover the various types of high-rise space JTC has. 3. Renamed as Land-based Factory (from Standard Factory) to cover the various types of land-based facilities that JTC has.