SINGAPORE: Demand for JTC Corporation's industrial facilities dropped significantly in the first three months of the year compared with a year ago.
Net allocation of ready-built facilities, a key gauge for demand, fell by over six-fold to 6,600 square metres in the three months ended in March.
The figure compared with 41,400 square metres in the same period last year.
JTC said the drop was due to a larger amount of termination as some businesses consolidated their operations.
Tenancy of 45,400 square metres worth of ready-built space was terminated in the first three months of this year, compared with just 26,700 square metres a year ago.
In addition, overall take-up also fell from 68,100 square metres in the first quarter last year to 52,000 square metres this year.
The biggest drop was for standard and flatted factory facilities, where more space was terminated compared to new space taken up.
Still, according to JTC Corp, overall occupancy of ready-built facilities remained healthy at 88%, slightly up from 87.8% as of the end of last year.
Net allocation of ready-built facilities, a key gauge for demand, fell by over six-fold to 6,600 square metres in the three months ended in March.
The figure compared with 41,400 square metres in the same period last year.
JTC said the drop was due to a larger amount of termination as some businesses consolidated their operations.
Tenancy of 45,400 square metres worth of ready-built space was terminated in the first three months of this year, compared with just 26,700 square metres a year ago.
In addition, overall take-up also fell from 68,100 square metres in the first quarter last year to 52,000 square metres this year.
The biggest drop was for standard and flatted factory facilities, where more space was terminated compared to new space taken up.
Still, according to JTC Corp, overall occupancy of ready-built facilities remained healthy at 88%, slightly up from 87.8% as of the end of last year.
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