JTC Quarterly Market Report 3Q2020 Embargoed.Pdf

EMBARGOED TILL 22 OCTOBER 2020, 1 PM

QUARTERLY MARKET REPORT Industrial Properties

Third Quarter 2020 EMBARGOED TILL 22 OCTOBER 2020, 1 PM SINGAPORE INDUSTRIAL PROPERTIES As at Third Quarter 2020

Stock & Occupancy

mil sqm 50Available.0Stock 89.6%

Business Park Occupancy Rate

Multiple-User Warehouse 2.2 Factory 11.4 11.1 0.2%-pt Compared to Previous Qtr

25.3 Single-User Factory 0.3%-pt Compared to Previous Yr

*Figures in chart are in mil sqm

Rental Price 0.9% 1.6% 2.2% 3.9% Compared to Compared to Compared to Compared to Previous Qtr Previous Yr Previous Qtr Previous Yr

Outlook on Upcoming Supply

Expected Completion 0.9 mil sqm 1.2 mil sqm Multiple-User Single-User 2020 0 .6 mil sqm Factory Factory

mil sqm mil sqm 2021 0.2 0.4 2 .2mil sqm Business Park Warehouse EMBARGOED TILL 22 OCTOBER 2020, 1 PM EXECUTIVE SUMMARY

1 As at end of 3Q 2020, occupancy rate for the overall industrial property market rose slightly by 0.2 percentage points on a quarter-on-quarter basis and 0.3 percentage points on a year-on-year basis. The rise was driven by an increase in demand for storage amid a delay in new completions. In 3Q 2020, only 24,000 sqm of new industrial spaces were completed, the lowest quarterly completion on record, and a significant reduction from the average quarterly completion of around 270,000 sqm in the past 3 years.

2 There are larger declines in prices and rentals compared to the previous quarter. In 3Q 2020, price index of all industrial space fell by 2.2% as compared to the previous quarter, while the rental index fell by 0.9% during the same period. Compared to a year ago, the price index fell by 3.9% while the rental index fell by 1.6%.

3 As at end September 2020, around 0.6 million sqm of new industrial space is expected to be completed in the last quarter of 2020. This is a sharp reduction from the 1.3 million sqm of new industrial space originally expected to be completed in the second half of 2020, as reported in the earlier 2Q 2020 report. Completion of 0.7 million sqm of new industrial spaces has been delayed to 2021 and 2022 due to the impact of COVID-19 on the construction sector. We can expect further delays in completion for some industrial building projects, as project owners and contractors adjust to meet BCA’s Safe Restart requirements.

4 The rapidly evolving COVID-19 situation will continue to weigh on the industrial property market. There would be continued downward pressures on prices and rentals in the coming quarters, as well as construction delays for some projects. JTC will continue to monitor the market closely and support the needs of industrialists.

Overview of Price, Rental and Occupancy Rate movements for 3Q 2020

% Change 2Q 2020 3Q 2020 Over Over Previous Previous Quarter Year All Industrial 88.3 86.4 -2.2 -3.9 Price Multiple-User Factory 91.2 89.2 -2.2 -4.5 Single-User Factory 79.2 77.7 -1.9 -2.8 All Industrial 90.3 89.5 -0.9 -1.6 Multiple-User Factory 88.1 87.1 -1.1 -2.1 Rental Single-User Factory 95.7 95.0 -0.7 -1.9 Business Park 113.1 112.0 -1.0 -1.1 Warehouse 84.4 83.5 -1.1 -1.4 All Industrial 89.4% 89.6% 0.2 0.3 Multiple-User Factory 87.5% 87.8% 0.3 0.7 Occupancy Single-User Factory 91.1% 91.0% -0.1 -0.1 Rate1 Business Park 85.2% 85.4% 0.2 -0.8 Warehouse 88.3% 89.1% 0.8 1.0

Note: 1 The % change refers to absolute change over previous year/quarter. EMBARGOED TILL 22 OCTOBER 2020, 1 PM STOCK & OCCUPANCY As at end of 3Q 2020, there was 50.0 million sqm of industrial space. In 3Q 2020, occupancy rate for the overall industrial property market rose slightly by 0.2 percentage points on a quarter-on-quarter basis and 0.3 percentage points on a year-on-year basis. The rise was driven by an 50.0 mil sqm 89.6% increase in demand for storage amid a delay in new completions. In 3Q Available Stock Occupancy Rate 2020, due to the impact of COVID-19 on the construction sector, only 24,000 sqm of new industrial spaces were completed, the lowest quarterly Q-o-Q Y-o-Y completion on record and a significant reduction from the average 0.2 0.3 quarterly completion of around 270,000 sqm in the past 3 years. Among %-pt %-pt the segments, occupancy rates for multiple-user factory space, warehouse space and business-park space all increased on a quarter-on-quarter basis, Change in while occupancy rate for single-user factory fell marginally by 0.1 Stock percentage points. Occupancy (‘000sqm) Rate (%) 800 92

600 90

400 88 200

86 0

-200 84 2015Q3 2016Q1 2016Q3 2017Q1 2017Q3 2018Q1 2018Q3 2019Q1 2019Q3 2020Q1 2020Q3

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

Multiple-User Factory Single-User Factory

11.4 mil sqm* 25.3 mil sqm*

91.1 91.1 87.9 90.8 90.7 91.0 87.8 278 87.5 87.5 240 87.1 65 135 29 98 106 38 18 8 4 1 -45 -14 -18 2019Q3 2020Q3 2019Q3 2020Q3

Business Park Warehouse

2.2 mil sqm* 11.1 mil sqm*

88.3 89.1 88.1 88.0 87.5 86.2 86.2 86.0 114 118 85.2 85.4 88 49 7 29 0 4 1 3 18 4 27 7

-1 -2 -8 -2 -11 -19 2019Q3 2020Q3 2019Q3 2020Q3

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. EMBARGOED TILL 22 OCTOBER 2020, 1 PM RENTAL

Q-o-Q Y-o-Y Rentals of industrial space fell. In 3Q 2020, the rental index of all 0.9% 1.6% industrial space fell by 0.9% on a quarter-on-quarter basis and fell by 1.6% on a year-on-year basis.

Rental Index (Private Industrial Space) 2012Q4=100

120

100 91.0 91.0 90.9 90.3 89.5

60 2015Q3 2016Q3 2017Q3 2018Q3 2019Q3 2020Q3

Multiple-User Factory Single-User Factory

Q-o-Q Y-o-Y Q-o-Q Y-o-Y 1.1% 2.1% 0.7% 1.9%

2019Q3 2019Q3 89.0 88.9 96.9 88.5 96.8 96.7 88.1 95.7 87.1 95.0

2020Q3 2020Q3

Business Park Warehouse

Q-o-Q Y-o-Y Q-o-Q Y-o-Y 1.0% 1.1% 1.1% 1.4%

2019Q3 2019Q3 85.0 113.2 113.3 113.3 84.7 84.8 113.1 84.4 112.0 83.5

2020Q3 2020Q3

Rental Index (Private Industrial Space) EMBARGOED TILL 22 OCTOBER 2020, 1 PM PRICE

Q-o-Q Y-o-Y Prices of industrial space also fell. In 3Q 2020, the price index of all industrial space fell by 2.2% on a quarter-on-quarter basis and 3.9% on a 2.2% 3.9% year-on-year basis. However, transaction volume of industrial properties, estimated based on caveats lodged for industrial properties, nearly tripled compared to a quarter ago and rose 32% compared to a year ago. This could be attributed to pent-up transactional demand following the lifting of COVID-19 Circuit Breaker measures. Price Index 2012Q4=100 120

100 89.9 89.7 89.3 88.3 86.4

60 2015Q3 2016Q3 2017Q3 2018Q3 2019Q3 2020Q3

Number of CaveatsLodged

400

320 300 242 213 200 151 112 100

0 2017Q3 2018Q3 2019Q3 2020Q3

Multiple-User Factory Single-User Factory

Q-o-Q Y-o-Y Q-o-Q Y-o-Y 2.2% 4.5% 1.9% 2.8% 2019Q3 93.4 2019Q3 93.2 92.6 79.9 79.8 79.7 91.2 79.2 89.2 77.7

2020Q3 2020Q3

Price Index EMBARGOED TILL 22 OCTOBER 2020, 1 PM INDUSTRIAL GOVERNMENT LAND SALES

In 3Q 2020, the tender for one Industrial Government Land Sales (IGLS) site targeted for single-user development located at Jalan Papan closed.

AWARDED Plot 1 Jalan Papan • Land area of 1.23 ha • Received three bids • Awarded to the highest bid at $459 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) 2018Q4 2019Q1 2019Q3 2019Q4 2020Q1 2020Q3 600

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

200

0 Nov Dec Jan Mar Aug Dec Feb Feb Jul 2018 2018 2019 2019 2019 2019 2020 2020 2020

Tuas Jalan Papan Sungei Kadut 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 and 2Q 2020. EMBARGOED TILL 22 OCTOBER 2020, 1 PM ALLOCATION OF JTC’S READY-BUILT FACILITIES [RBF]

In 3Q 2020, JTC allocated a total of 23,400 sqm of RBF space to industrialists, which included 14,900 sqm of high-rise space and 4,700 sqm of land-based factory space.

Total RBF returns in 3Q 2020 was 39,600 sqm, of which 26,200 sqm was high-rise space and 6,700 sqm was workshop space. About 47% of the total returns were due to natural expiries or companies consolidating their operations.

GrossAllocation Returns (‘000 sqm) (‘000sqm) 110 105.8 110 100 100 90 90 80 80 70 70 59.5 60 60 51.9 53.4 50 50 44.3 40.9 39.6 40 37.7 40 38.1 30 30 23.4 20 20 10 10 0 0 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3 2019Q3 2019Q4 2020Q1 2020Q2 2020Q3

Among the high-rise space that was allocated, about 51% was in JTC’s newer developments such as JTC Space @ Tuas, JTC Food Hub @ Senoko, LaunchPad @ one-north, trendspace, JTC MedTech Hub @ MedTech Park and JTC Space @ Tuas Biomedical Park.

5 4

3 6

1. JTC Food Hub @ Senoko 2. trendspace 3. JTC Space @ Tuas Biomedical Park 4. JTC Space @ Tuas 5. JTC MedTech Hub @ MedTech Park 6. LaunchPad @ one-north

Note: Size of bubble denotes the amount of space allocated. EMBARGOED TILL 22 OCTOBER 2020, 1 PM OUTLOOK ON UPCOMING SUPPLY

Based on approved plans as at end September New Supply (Historical and Upcoming) 2020, around 0.6 million sqm of industrial space (‘000) sqm could be completed in the last quarter of 2020. About 58% of the supply is single-user factory 2015 1,616 space, typically developed by the industrialists for 2016 1,823 their own use. Warehouse supply constitutes 2017 1,941 another 29% of the supply. The remaining 13% of the supply is multiple-user factory and business 2018 545 park space. 2019 865 Between 2021 and 2024, around 4.4 million sqm of 2020 319 593 industrial space is expected to be completed. Of 2021 2,158 which, completion of 0.7 million sqm of new 2022 1,476 industrial spaces was delayed from 2020 to 2021 and 2022 due to the impact of COVID-19 on the 2023 319 construction sector. Including the expected supply of 2024 450 0.6 million sqm in the last quarter of 2020, this

Historical Upcoming amounts to an average annual supply of about 1.2 million sqm from now until end 2024. As a Note: The figures for upcoming supply are in terms of gross floor area, whereas historical changes in available comparison, the average annual supply and demand stock (measured by taking the annual net change of of industrial space were both around 0.8 million sqm available stock) are in terms of net floor area. in the past three years.

At the end of 3Q 2020, there were around 130 units, totalling about 70,000 sqm, in uncompleted 128units strata-titled developments still available for sale. in uncompleted The unit sizes ranged from about 160 sqm to 2,540 strata-titled developments sqm. available for sale 20

127 EMBARGOED TILL 22 OCTOBER 2020, 1 PM OUTLOOK ON UPCOMING SUPPLY

Multiple-User Factory Single-User Factory

1.6 mil sqm 2.0 mil sqm 2020 39 513 2020 347 520 2021 451 862 2021 858718 2022 680633 2022 420408 2023 - 2024 52 2023 - 2024 374369

Business Park Warehouse

0.5 mil sqm 0.9 mil sqm 2020 38 2020 169 2021 169 2021 269 2022 54 2022 322 2023 - 2024 226 2023 - 2024 117

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. EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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 3Q 2020 18

A7 List of Major Industrial Projects in the Pipeline as at End of 3Q 2020 19

B Statistics on JTC's Prepared Industrial Land and Ready-Built Facilities 27 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Annex A – Industrial Property Market Statistics

Annex A-1: Price Statistics

Table 1: Quarterly Price Index of Industrial Space (3Q 2019 – 3Q 2020)

% Change Market Segment 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Over Previous Quarter All Industrial 89.9 89.7 89.3 88.3 86.4 -2.2 Multiple-User 93.4 93.2 92.6 91.2 89.2 -2.2 Factory Planning Region Central Region 97.9 97.2 97.1 96.9 94.1 -2.9 North Region 81.4 82.4 81.0 78.2 77.2 -1.3 West Region 83.3 82.9 82.9 79.6 76.4 -4.0 Other Regions 85.0 84.5 83.3 83.0 83.3 0.4 Land-Use Zoning Business 1 94.4 94.0 93.7 92.2 89.8 -2.6 Business 2 78.5 78.6 77.3 76.7 75.8 -1.2 Remaining Tenure < 30 Years 85.8 85.5 85.6 84.6 80.7 -4.6 31 – 60 Years 83.3 82.9 82.4 80.3 79.6 -0.9 > 60 Years 99.3 99.4 98.4 98.8 95.5 -3.3 Single-User Factory 79.9 79.8 79.7 79.2 77.7 -1.9

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

1 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 2: Quarterly Price Index of Industrial Space (4Q 2017 – 3Q 2020)

Price Index Period All Industrial Multiple-User Factory Single-User Factory 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 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

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.

2 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 3: Quarterly Price Index of Multiple-User Factory by Planning Region (4Q 2017 – 3Q 2020)

Price Index of Multiple-User Factory Period Central Region North Region West Region Other Regions 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 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

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.

3 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 4: Quarterly Price Index of Multiple-User Factory by Remaining Tenure and Land-Use Zoning (4Q 2017 – 3Q 2020)

Price Index of Multiple-User Factory

Period Remaining Tenure Land-Use Zoning 31 – 60 ≤ 30 Years > 60 Years Business 1 Business 2 Years 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 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

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.

4 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Annex A-2: Rental Statistics

Table 5: Quarterly Rental Index of Industrial Space (3Q 2019 – 3Q 2020)

% Change Market Segment 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Over Previous Quarter All Industrial 91.0 91.0 90.9 90.3 89.5 -0.9 Multiple-User 89.0 88.9 88.5 88.1 87.1 -1.1 Factory Planning Region Central Region 90.3 90.3 89.9 89.8 88.9 -1.0 North Region 93.8 94.0 93.7 93.0 92.3 -0.8 West Region 77.7 77.3 76.7 76.3 75.3 -1.3 East Region 91.0 91.0 91.0 89.1 87.9 -1.3 Northeast Region 82.3 82.3 81.9 81.5 80.5 -1.2 Land-Use Zoning Business 1 89.9 89.8 89.4 89.2 88.2 -1.1 Business 2 82.2 82.2 81.9 80.8 80.0 -1.0 Single-User Factory 96.8 96.9 96.7 95.7 95.0 -0.7 Business Park 113.2 113.3 113.3 113.1 112.0 -1.0 Warehouse 84.7 84.8 85.0 84.4 83.5 -1.1

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. From 1Q 2019, the rental index is computed using fixed weights based on 2018 transaction values.

5 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 6: Quarterly Rental Index of Industrial Space (4Q 2017 – 3Q 2020)

Rental Index

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

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 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

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.

6 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 7: Quarterly Rental Index of Multiple-User Factory by Planning Region and Land-Use Zoning (4Q 2017 – 3Q 2020)

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 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 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

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.

7 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Annex A-3: Stock and Vacancy Statistics

Table 8: Stock and Vacancy Rate of Industrial Space (2Q 2020 – 3Q 2020)

Over Previous As at As at Quarter Property Type Market Indicator 2Q 3Q Absolute % 2020 2020 Change Change Available (‘000 sq m) 49,930 49,952 22 0.0 Occupied (‘000 sq m) 44,639 44,747 108 0.2 All Industrial Space Vacant (‘000 sq m) 5,291 5,205 -86 -1.6 Vacancy Rate (%) 10.6 10.4 -0.2 - Available (‘000 sq m) 11,383 11,387 4 0.0 Multiple-User Occupied (‘000 sq m) 9,964 9,993 29 0.3 Factory Vacant (‘000 sq m) 1,419 1,394 -25 -1.8 Vacancy Rate (%) 12.5 12.2 -0.3 - Available (‘000 sq m) 25,295 25,303 8 0.0 Single-User Occupied (‘000 sq m) 23,037 23,023 -14 -0.1 Factory Vacant (‘000 sq m) 2,258 2,280 22 1.0 Vacancy Rate (%) 8.9 9.0 0.1 - Available (‘000 sq m) 2,195 2,198 3 0.1 Occupied (‘000 sq m) 1,870 1,877 7 0.4 Business Park Vacant (‘000 sq m) 324 322 -2 -0.6 Vacancy Rate (%) 14.8 14.6 -0.2 - Available (‘000 sq m) 11,057 11,064 7 0.1 Warehouse Occupied (‘000 sq m) 9,767 9,855 88 0.9 Space Vacant (‘000 sq m) 1,289 1,209 -80 -6.2 Vacancy Rate (%) 11.7 10.9 -0.8 -

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.

8 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 9: Stock and Vacancy Rate of All Industrial Space (4Q 2017 – 3Q 2020)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 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 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

9 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 10: Stock and Vacancy Rate of Multiple-User Factory Space (4Q 2017 – 3Q 2020)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 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 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

10 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 11: Stock and Vacancy Rate of Single-User Factory Space (4Q 2017 – 3Q 2020)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 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 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

11 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 12: Stock and Vacancy Rate of Business Park Space (4Q 2017 – 3Q 2020)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 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 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

12 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 13: Stock and Vacancy Rate of Warehouse Space (4Q 2017 – 3Q 2020)

Stock (‘000 sq m) Vacancy Rate Period Available Occupied Vacant (%) 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 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

13 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 14: Available Stock and Occupancy Rate of Newly Completed Private Multiple-User Factory Space (4Q 2017 – 3Q 2020)

Year of Completion

Period 2017 2018 2019 2020 2017 2018 2019 2020

Available Stock (‘000 sq m) Occupancy Rate (%) 4Q 2017 252 - - - 34.6 - - - 1Q 2018 252 111 - - 48.0 7.3 - - 2Q 2018 252 248 - - 58.1 15.0 - - 3Q 2018 252 294 - - 67.0 22.0 - - 4Q 2018 252 294 - - 69.8 32.3 - - 1Q 2019 252 294 15 - 69.4 55.8 13.2 - 2Q 2019 252 293 57 - 73.1 63.1 8.3 - 3Q 2019 252 293 61 - 76.3 67.0 11.0 - 4Q 2019 252 293 61 - 78.1 70.8 11.0 - 1Q 2020 252 293 61 27 79.2 74.4 12.3 0.0 2Q 2020 252 293 61 29 77.4 76.0 48.0 12.3 3Q 2020 252 293 61 35 79.7 77.8 51.0 14.6

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. 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 3Q 2020

‘000 sq m nett Land-Use Zoning Industrial Space Total Floor Area Business 1 Business 2 All Industrial Space 49,952 11,251 36,503 Multiple-User Factory 11,387 6,409 4,978

Single-User Factory 25,303 2,983 22,320

Business Park 2,198 - -

Warehouse Space 11,064 1,859 9,205

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

14 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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 2020

‘000 sq m gross All Industrial Space Total 2020 2021 2022 2023 2024 >2024 Total 4,997 593 2,158 1,476 319 450 - Under Construction 3,994 562 1,855 954 249 373 - Planned 1,003 31 304 522 70 76 - Written Permission 612 28 200 365 19 - - Provisional Permission 253 3 98 99 33 21 - Others 138 - 6 58 18 55 - Multiple-User Factory 1,634 39 862 680 - 52 - Under Construction 1,415 39 817 507 - 52 - Planned 219 - 46 173 - - - Written Permission 166 - 13 153 - - - Provisional Permission 53 - 32 20 - - - Others ------Single-User Factory 1,998 347 858 420 203 171 - Under Construction 1,385 320 644 194 132 95 - Planned 613 26 214 226 70 76 - Written Permission 416 24 169 204 19 - - Provisional Permission 100 3 40 5 33 21 - Others 97 - 6 17 18 55 - Business Park 487 38 169 54 - 226 - Under Construction 431 36 169 - - 226 - Planned 56 2 - 54 - - - Written Permission 2 2 - - - - - Provisional Permission 13 - - 13 - - - Others 41 - - 41 - - - Warehouse 878 169 269 322 117 - - Under Construction 762 166 226 253 117 - - Planned 116 3 44 69 - - - Written Permission 28 3 17 8 - - - Provisional Permission 87 - 26 61 - - - Others ------

Note: 1. The figures may not add up due to rounding. 15 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 17: Supply of Industrial Space by Property Type, Usage and Expected Year of Completion as at End of 3Q 2020

‘000 sq m gross All Industrial Space Total 2020 2021 2022 2023 2024 >2024 Total 4,997 593 2,158 1,476 319 450 - Business 1 303 40 197 65 - - - Business 2 4,207 515 1,793 1,357 319 224 - Business Park 487 38 169 54 - 226 - Multiple-User Factory 1,634 39 862 680 - 52 - Business 1 158 39 104 14 - - - Business 2 1,476 0 758 665 - 52 - Single-User Factory 1,998 347 858 420 203 171 - Business 1 137 1 85 51 - - - Business 2 1,861 346 773 369 203 171 - Business Park 487 38 169 54 - 226 - Warehouse Space 878 169 269 322 117 - - Business 1 8 - 8 - - - - Business 2 870 169 262 322 117 - -

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

16 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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 2020

Units Available Floor Area (sq m) Total % Sold for Sale < 3,000 sqm 256 128 50

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

17 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Annex A-6: List of Major Industrial Projects Completed in 3Q 2020

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 Food Concept @ Pandan at 239 Pandan JVA Pandan Pte Ltd 7,040 7,040 Loop

Sub-Total 7,040 7,040

Total 7,040 7,040

SINGLE-USER FACTORY PROJECT Private Sector Single-user factory at 1 Tuas South Air Liquide Singapore Pte Ltd 8,470 8,470 Place

Sub-Total 8,470 8,470

Total 8,470 8,470

WAREHOUSE PROJECT Private Sector

Warehouse development at 9 Jalan G'zox Detailing Singapore Pte Ltd 1,680 1,680 Lembah Kallang

Sub-Total 1,680 1,680

Total 1,680 1,680

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.

18 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Annex A-7: List of Major Industrial Projects in the Pipeline as at End of 3Q 2020

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 37,100 2021

7 North Coast at North Coast Avenue JTC Corporation 44,570 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 2022

Kranji Green at Kranji Loop JTC Corporation 133,040 2021

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

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

Sub-Total 977,160

MULITPLE-USER FACTORY PROJECT Private Sector

351 on Braddell at Braddell Road BP-Braddell LLP 24,210 2020

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 9,140 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

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

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

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

19 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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 Jalan Lam Huat JC Development Pte Ltd 13,320 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

AirTrunk Singapore Holding Pte Multiple-user factory at Loyang Drive 37,420 na Ltd

Multiple-user factory at Mandai Estate Mandai 7 JV Pte Ltd 9,570 2022

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

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 47,160 2021

Ubix at Ubi Road 4 Ascendas REIT 17,100 2021

Sub-Total 650,120

Total 1,627,280

SINGLE-USER FACTORY PROJECT Private Sector 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 20 2020 Coast Drive Operations Pte Ltd Additions/alterations to existing factory at North Micron Semiconductor Asia 39,480 2021 Coast Drive Operations Pte Ltd

20 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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 North Micron Semiconductor Asia 48,960 na Coast Drive Operations Pte Ltd Additions/alterations to existing factory at Antara Koh Pte Ltd 11,300 2020 Pioneer Road Additions/alterations to existing factory at Greif Singapore Pte. Ltd. 7,820 na Pioneer Sector 3 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 46,130 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

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 6,830 na

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

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

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 Gul Circle Continental Steel Pte Ltd 14,830 na

Single-user factory at Gul Crescent Sin Ghee Huat Corporation Ltd 7,270 2021

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

21 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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 Jalan Lam Huat BS Kranji Pte Ltd 12,460 2021

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

Single-user factory at Jalan Papan Liang Yun Hung Services 1,570 na

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

Lian Beng Construction (1998) Single-user factory at Kranji Way 12,940 na Pte Ltd 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 24,060 na Pte Ltd

Single-user factory at Loyang Drive Digital Singapore 2 Pte Ltd 32,090 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 12,800 2021

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

Single-user factory at Seletar Aerospace Heights BP-BBD2 Pte Ltd 20,700 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 650 na 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

Aston Food & Beverage Single-user factory at Senoko Crescent 5,170 na Specialities Pte Ltd

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

22 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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 Sungei Kadut Street 2 Redwood Interior Pte Ltd 15,000 2020

Amazon Asia-Pacific Resource Single-user factory at Sunview Drive 20,750 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 Dong Jian (Singapore) Pte Ltd 2,540 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 7,000 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

Single-user factory at Tuas South Link 2 Hiap Shing Construction Pte. Ltd. 3,840 2021

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

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

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

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

G.T.H. Engineering & Single-user factory at Tuas South Link 4 6,570 2020 Construction Pte Ltd 23 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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

SINGLE-USER FACTORY PROJECT Private Sector 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

Asiaone Logistics & Warehousing Single-user factory at Tuas South Street 9 6,030 na Pte. Ltd. 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 38,000 na Singapore Pte. Ltd. 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 32,510 na Park E9 Single-user industrial development at Banyan Arkema Pte Ltd 15,230 na Avenue Single-user industrial development at Bulim Shimano Singapore Pte Ltd 35,600 na Walk Single-user industrial development at Chin Bee OJJ Foods Pte Ltd 14,250 2022 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 79,580 2021 Drive/Senoko Road Pte Ltd Single-user industrial development at Tanjong 2TPC Pte Ltd 23,510 na Penjuru Crescent Single-user industrial development at Tuas F&N Foods Pte Ltd 5,620 na Link 3 Single-user industrial development at Tuas West Air Liquide Singapore Pte Ltd 1,920 na Avenue

Tuck Lee Building at Defu Lane 10 Paradise Group Holdings Pte Ltd 8,570 na

Sub-Total 1,563,310

Total 1,563,310

BUSINESS PARK PROJECT Public Sector Additions/Alterations to existing business park JTC Corporation 13,050 2021 development at Cleantech Loop

Business park development at Punggol Way JTC Corporation 225,890 2024

CleanTech Three at Cleantech Loop JTC Corporation 61,690 2021

Sub-Total 300,630

24 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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

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 18,460 na

Business park development at Changi Business Kajima Development Pte Ltd 13,090 na Park Crescent Business park development at One-north Ascendas REIT 36,240 na Avenue

Razer SEA HQ at One-north Crescent Snakepit-BP LLP 16,320 na

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

Sub-Total 143,190

Total 443,820

WAREHOUSE PROJECT Public Sector

JTC Logistics Hub @ Gul at Gul Circle JTC Corporation 140,090 2020

Sub-Total 140,090

WAREHOUSE PROJECT Private Sector Additions/alterations to existing industrial C M M Marketing Management 10,210 na development at Mandai Link Pte Ltd Additions/alterations to existing industrial LOGOS SE Asia Pte Ltd 80,130 2022 development at Tuas South Avenue 14 Cogent Jurong Island Logistics Hub at Tembusu S H Cogent Logistics Pte Ltd 87,500 2021 Crescent 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 1,580 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 Seletar PPG Industries (Singapore) Pte 1,760 na Aerospace Avenue Ltd Single-user industrial development at Senoko Tee Yih Jia Food Manufacturing 20,420 2021 Drive/Senoko Road Pte Ltd Single-user industrial development at Tanjong 2TPC Pte Ltd 22,060 na Penjuru Crescent

25 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Gross Floor Expected Description and Location of Project Name of Developer Area Year of (sq m) Final TOP WAREHOUSE PROJECT Private Sector Single-user industrial development at Tuas F&N Foods Pte Ltd 29,010 na Link 3 Single-user industrial development at Tuas West Air Liquide Singapore Pte Ltd 710 na Avenue

Tuck Lee Building at Defu Lane 10 Paradise Group Holdings Pte Ltd 1,110 na

Warehouse development at Pandan Crescent Pandan Crescent Pte Ltd 119,710 na

Warehouse development at Pesek Road SPCI Advance Pte Ltd 9,130 2021

Warehouse development at Pioneer Sector 1 Soilbuild Business Park REIT 53,190 na

Warehouse development at Senoko Drive TC Import & Export Pte Ltd 7,910 na

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 na Street 2

Warehouse development at Sunview Road Allied Sunview Pte Ltd 116,810 na

Warehouse development at Sunview Road NTUC Fairprice Co-operative Ltd 69,610 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 701,070

Total 841,160

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 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.

26 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

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

Table 1: Gross Allocation and Returns by Product Segment (3Q 2019 – 3Q 2020)

Gross Allocation Returns 3Q 4Q 1Q 2Q 3Q 3Q 4Q 1Q 2Q 3Q 2019 2019 2020 2020 2020 2019 2019 2020 2020 2020 Prepared Industrial Land (ha) Total1 73.8 39.6 87.1 47.8 39.6 75.8 29.4 66.6 38.7 16.9 Generic Land 48.2 14.6 27.2 31.0 18.9 35.5 21.8 44.4 20.7 15.5 Tuas Biomedical Park - - - - 16.2 - - 8.8 - - Jurong Island 22.6 24.8 42.7 16.2 3.1 39.9 7.6 12.0 17.4 1.3 Wafer Fab Park 0.1 - 0.2 0.6 - 0.3 - 1.2 0.5 0.1 Business Park 2.8 0.2 17.0 - 1.4 - - 0.1 - - Logistics Park ------Seletar Aerospace 0.1 0.0 - - - - 0.0 - - 0.2 Park

Ready-Built Facilities (‘000 sqm) Total 37.7 51.9 59.5 105.8 23.4 40.9 53.4 44.3 38.1 39.6 High-Rise Space 22.8 27.4 32.8 43.2 14.9 31.2 26.0 27.6 26.8 26.2 Business Park Space 0.5 1.2 2.7 0.3 1.8 1.1 0.7 5.8 0.4 1.4 Land-Based Factory 7.9 19.0 19.7 57.1 4.7 2.0 17.6 4.2 5.2 5.3 Workshop Space 6.5 4.4 4.3 5.2 1.9 6.6 9.1 6.8 5.6 6.7

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

27 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 2: Gross Allocation by Allocation Mode (3Q 2019 – 3Q 2020)

Gross Allocation 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Prepared Industrial Land (ha) Total1 73.8 39.6 87.1 47.8 39.6 Direct Allocation2 68.2 35.8 73.8 44.4 38.2 Tender/ Launches3 5.6 3.8 13.3 3.4 1.4

Ready-Built Facilities (‘000 sqm) Total 37.7 51.9 59.5 105.8 23.4 Direct Allocation2 14.9 31.4 43.2 85.1 17.1 Tender/ Launches3 22.8 20.5 16.3 20.7 6.3

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 (3Q 2019 – 3Q 2020)

Gross Allocation 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Prepared Industrial Land (ha) Total1 73.8 39.6 87.1 47.8 39.6 Lease 44.3 3.3 23.2 29.9 18.6 Tenancy 1.0 2.6 - - - Licence 28.4 33.7 63.9 17.9 21.0

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

28 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 4: Gross Allocation and Returns of Prepared Industrial Land by Industry (3Q 2019 – 3Q 2020)

Gross Allocation (ha) Returns (ha) 3Q 4Q 1Q 2Q 3Q 3Q 4Q 1Q 2Q 3Q 2019 2019 2020 2020 2020 2019 2019 2020 2020 2020 Total1 73.8 39.6 87.1 47.8 39.6 75.8 29.4 66.6 38.7 16.9 Manufacturing 52.7 27.1 59.5 30.9 24.6 55.2 13.3 46.8 28.5 1.9 Electronics - - 0.1 0.6 - - - 0.9 - - Precision Engineering 0.1 1.3 0.8 - - 0.6 0.5 0.4 - 0.4 Chemicals 52.1 20.1 48.8 18.0 1.9 31.6 4.7 12.0 14.4 1.1 Biomedical Manufacturing - - - - 15.1 - - 8.8 - - Transport Engineering - - 3.5 12.1 3.5 22.5 0.2 24.4 1.0 0.2 General Manufacturing 0.6 5.7 6.3 0.1 4.0 0.5 7.8 0.2 13.0 0.2 Industries Mfg Related & Supporting 21.1 12.5 27.6 16.9 15.0 20.6 16.2 19.7 10.2 15.0 Information & - 1.0 - 0.1 ------Communication Professional, Scientific & 0.1 2.3 1.7 - 1.4 8.1 - 2.2 0.8 0.1 Technical Activities Transportation & Storage 4.4 - 0.0 11.4 0.4 2.9 1.7 7.0 3.0 9.6 Water Supply, Sewerage & - - - 1.5 0.2 - - 1.3 0.8 - Waste Management Construction 15.1 7.4 14.2 3.9 3.5 3.7 10.9 5.4 1.1 0.1 Real Estate/ Financial Activities/ Holding - - - - 8.0 1.0 - - 1.6 1.3 Companies Other Services 1.5 1.8 11.7 0.0 1.5 4.9 3.6 3.7 2.9 3.9

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

29 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 5: Gross Allocation and Returns of Ready-Built Facilities by Industry (3Q 2019 – 3Q 2020)

Gross Allocation (‘000 sqm) Returns (‘000 sqm) 3Q 4Q 1Q 2Q 3Q 3Q 4Q 1Q 2Q 3Q 2019 2019 2020 2020 2020 2019 2019 2020 2020 2020 Total 37.7 51.9 59.5 105.8 23.4 40.9 53.4 44.3 38.1 39.6 Manufacturing 7.9 12.1 24.4 25.7 5.6 12.5 26.1 12.1 13.7 14.6 Electronics 0.1 0.2 5.0 0.0 - 0.4 0.1 0.1 - 0.9 Precision Engineering 0.9 4.4 10.9 2.3 3.8 3.7 9.8 3.8 4.1 4.0 Chemicals - - 0.6 14.0 0.1 0.6 0.4 0.7 0.3 0.4 Biomedical Manufacturing 0.3 - - 1.2 0.1 1.8 0.2 - 0.3 0.2 Transport Engineering 2.9 0.7 4.6 1.4 0.2 2.0 6.4 1.9 3.5 5.1 General Manufacturing 3.7 6.8 3.3 6.9 1.4 4.1 9.2 5.5 5.4 4.0 Industries Mfg Related & Supporting 29.8 39.7 35.1 80.1 17.8 28.4 27.3 32.2 24.4 25.0 Information & 1.3 1.2 2.3 1.2 0.2 1.6 0.8 1.4 1.1 2.2 Communication Professional, Scientific & 3.2 1.6 3.8 1.1 2.6 2.7 1.5 1.9 4.9 1.6 Technical Activities Transportation & Storage 0.3 6.5 0.2 45.0 1.1 0.5 0.6 0.3 1.0 0.2 Water Supply, Sewerage & 0.0 3.6 0.1 - - - - 0.2 - - Waste Management Construction 6.5 5.1 6.1 6.7 3.8 5.9 5.4 6.8 4.0 6.0 Real Estate/ Financial Activities/ Holding 0.2 0.3 0.5 0.1 1.2 0.7 0.6 0.9 0.2 1.1 Companies Other Services 18.3 21.4 22.2 26.0 8.8 17.0 18.5 20.8 13.2 14.0

30 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 6: Total Allocated and Supply by Product Segment (Prepared Industrial Land) (3Q 2019 – 3Q 2020)

Total Allocated as at 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Prepared Industrial Land (ha) Total1 7,182.1 7,195.7 7,223.9 7,239.9 7,265.6 Generic Land 3,842.7 3,838.4 3,831.0 3,840.0 3,843.5 Tuas Biomedical Park 157.0 157.0 148.1 148.1 164.3 Jurong Island 1,753.7 1,772.8 1,801.7 1,800.5 1,802.3 Wafer Fab Park 152.8 152.8 151.2 151.8 151.8 Business Park 84.4 84.6 101.4 100.6 101.9 Logistics Park 150.1 150.1 150.1 150.1 150.1 Seletar Aerospace Park 49.0 49.0 49.0 49.0 48.8 Land for JTC Ready-Built Facilities 992.4 991.1 991.3 999.8 1,002.9 (RBF)

Supply 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Prepared Industrial Land (ha) Total1 8,211.0 8,220.0 8,258.7 8,268.8 8,309.0 Generic Land 4,240.4 4,250.6 4,261.2 4,267.0 4,298.4 Tuas Biomedical Park 212.9 212.9 231.2 231.2 231.2 Jurong Island 1,973.0 1,973.0 1,978.8 1,978.8 1,979.4 Wafer Fab Park 274.2 274.3 274.3 274.3 274.3 Business Park 129.8 127.4 127.4 127.4 127.4 Logistics Park 157.3 157.3 157.3 157.3 157.3 Seletar Aerospace Park 66.0 66.0 66.0 63.4 63.4 Land for JTC Ready-Built Facilities 1,157.2 1,158.5 1,162.5 1,169.3 1,177.7 (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.

31 EMBARGOED TILL 22 OCTOBER 2020, 1 PM

Table 7: Total Allocated and Supply by Product Segment (Ready-Built Facilities) (3Q 2019 – 3Q 2020)

Total Allocated as at 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Ready-Built Facilities (‘000 sqm) Total 5,115.2 5,113.8 5,128.5 5,196.6 5,180.3 High-Rise Space 1,483.9 1,485.4 1,490.1 1,506.9 1,495.6 Business Park Space 270.1 270.6 267.6 267.5 267.9 Land-Based Factory 2,868.4 2,869.7 2,885.2 2,937.1 2,936.5 Workshop Space 492.8 488.0 485.6 485.1 480.4

Supply 3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Ready-Built Facilities (‘000 sqm) Total 6,298.4 6,302.1 6,335.8 6,411.9 6,489.3 High-Rise Space 1,873.5 1,873.2 1,873.1 1,940.4 1,940.4 Business Park Space 313.8 313.8 313.8 313.6 313.6 Land-Based Factory 3,573.3 3,577.1 3,610.5 3,619.2 3,696.5 Workshop Space 537.8 538.0 538.3 538.7 538.8

Table 8: Occupancy Rate of Ready-Built Facilities (3Q 2019 – 3Q 2020)

3Q 2019 4Q 2019 1Q 2020 2Q 2020 3Q 2020 Ready-Built Facilities (%) Overall 81.2 81.1 80.9 81.0 79.8 High-Rise Space 79.2 79.3 79.5 77.7 77.1 Business Park Space 86.1 86.2 85.3 85.3 85.4 Land-Based Factory 80.3 80.2 79.9 81.2 79.4 Workshop Space 91.6 90.7 90.2 90.1 89.2