commercial property singapore prices - In the battle to attract international business and investment, Singapore Prime Minister Lee Hsien Loong addressed the core issue that countries “cannot stay static, or else the country will stagnate and decline.”

(Can Singapore's office real estate compete with the likes of Hong Kong and Tokyo? Image courtesy of Singapore Tourism Board.)

While there are, of course, many factors in determining where a multinational business or corporation bases its operations – and Singapore’s strategic geo-political location, rule of law, and governmental incentives already make the city-state attractive – the availability and nature of a country’s commercial real estate is economically and strategically important.

Singapore is in direct competition with Asia’s other regional financial hubs of Hong Kong, Shanghai and Tokyo, and globally with established centres such as London and New York, to attract global multinationals. When MNCs, especially in fields such as finance and banking, decide where to locate their businesses, the type, size and location of the commercial real estate there is a critical consideration.

What do MNCs Want?
Global commercial real estate and investment specialists, Jones Lang LaSalle, identified, in their 2010 white paper Future Proofing the Office Market, certain key requirements in commercial real estate that major occupiers look for, including large-scale, of 20,000-square feet and upwards, floor plate size; regular, rectangular or square design; and Green Mark Certification, showing the building’s environmental credentials.

Multinationals look for office space with large, column-free square, regular shape floor plates because, says Jeremy Choy, project director at Asia Square, Singapore’s most ambitious commercial development to date, it is highly efficient. The layout allows the maximum use of space, and accommodates more personnel for the same floor area present in one area, which means that the tenant has to rent less floors, which all translates into lower cost of occupancy. This also increases employee productivity, as departments that are spread over multiple floors tend to communicate less and spend less time in face-to-face interactions.


Grade-A in Singapore

(An artists impression of Asia Square, its massive floor plate size is a key factor in attracting financial institutions to Singapore. Image courtesy of MGPA.)

Until recently, what grade-A real estate existed in Singapore, like Raffles Quay, was limited. The Singaporean government, however, has spearheaded a drive to promote office developments with larger floor plates. The result has seen buildings like Asia Square, which has attracted tenants such as Citibank, Julius Baer, Lloyd’s, and Google, amongst others, with its 35,000-sqft, column-free, rectangular regular shape floor plates, or Marina Bay Financial Centre, which hosts Standard Chartered Bank and Societe Generale on floor plates of approximately 21,000-sqft, both attracting major banking, finance and service institutions.

The World’s Commercial Hubs
While London and New York, which have between them roughly 50% of the world’s 20,000+ sf floor plate space, remain unchallenged in terms of real estate capacity, Singapore alone amongst the Asian hubs has the faculty to develop its CBD in the future. Hong Kong and Tokyo are both at saturation point; Hong Kong in particular has resorted to building grade-A real estate in outlying Kowloon to accommodate demand. Singapore, however, has set 100 hectares aside of its downtown Gardens by the Bay and Marina Promenade developments, giving it the unique opportunity to bring on to the market around seven million sq ft of office space in the next five years.


(Gardens by the Bay offers multinationals grade-A real estate in the heart of the CBD. Image courtesy of Singapore Tourism Board.)


Rent

Rental rates in the CBD, predicts Chris Archibold, International Director and Head of Markets at Jones Lang LaSalle, will see moderate quarterly increases in the first half of 2011, with faster increases in the second half and for much of 2012. Yet, Archibold argues, locating to the CBD is essential for some companies, particularly banking or financial institutions, which will pay the rent regardless, driven by market demands for the prestige a CBD-business address brings, as well as business requirements for (and the company’s senior executives’ desire to work in) a central location.

Different Strokes
Yet these buildings only really make sense for large-scale companies, as a certain size is required, Choy estimates around 30,000-sqft, before economies of scale come into play. Other locations are available for small to medium sized companies, or those that don’t require the status that comes with a CBD office address. Changi Business Park, for example, attracts high tech, data and software businesses, as well as R&D divisions of companies.

Single-user industrial space refers to an industrial development that is intended for use by a single occupier. No strata subdivision is allowed for this form of industrial development

Multiple-user industrial property refers to an industrial development that is capable of being strata subdivided and thus could be used by multiple users. The users of the individual units (usually within flatted developments) are independent of one another.

Industrial Space refers to the space used or intended to be used for industrial purposes, comprising buildings or part of the buildings used for the manufacturing, altering, repairing, ornamenting, finishing, cleaning, washing, packing, canning, breaking-up or demolition of any article or its parts and the processing and treatment of minerals. Factory buildings are further classified into multiple-user factory, single-user factory, Business Park and Warehouse Retail

sellers industrial property - Singapore industrial property mainly consists of factory space, warehouse space and industrial land. It is classified under 3 zone, Business 1 ( B1 ), Business 2 ( B2 ) and Business Park.

Warehouse Space

Warehouse Space refers to the covered space used or intended to be used predominantly as storage area for raw materials, semi-finished or finished goods. The statistics exclude space in shophouses used for storage.

Factory Space

Factory Space refers to the space used or intended to be used for industrial purposes, comprising buildings or part of the buildings used for the manufacturing, altering, repairing, ornamenting, finishing, cleaning, washing, packing, canning, breaking-up or demolition of any article or its parts and the processing and treatment of minerals. Factory buildings are further classified into multiple-user factory, single-user factory, Business Park and Warehouse Retail


Single-user industrial property refers to an industrial development that is intended for use by a single occupier. No strata subdivision is allowed for this form of industrial development

Multiple-user industrial property refers to an industrial development that is capable of being strata subdivided and thus could be used by multiple users. The users of the individual units (usually within flatted developments) are independent of one another.

Business Park development refers to an area set aside for non-pollutive industries and businesses that engage in high technology, research and development (R&D), high value-added and knowledge intensive activities. Although a business park development is usually multiple-user, the guidelines are significantly different from that of the conventional industrial development.

Warehouse Retail / Industrial Retail Building (under the Warehouse Retail Scheme) refers to a single-user development operating on industrial sites with integrated business models that encompass elements of both retail and warehouse

Industrial Land

Industrial land refers to land zoned under industrial. These lands are mostly sold by the Government through the Government Land Sales (GLS) programme. These prepared industrial lands are for custom built facilities on 30 or 60 years lease

Industrial Land Use Zones


Under the Master Plan 2008, a new impact-based zoning approach was introduced to Singapore Industrial Property to replace the Warehouse, Light Industry and General Industry in the Master Plan 1998. The 2 new zones are Business 1 ( B1 ) and Business 2 ( B2 ), according to their impact on the environment. Singapore Industrial Property can also be classified under the various Master Plan 2008 zoning as follows:

Business 1 ( B1 ) These are areas used or intended to be used for industry, warehouse, utilities and telecommunication uses for which the relevant authority (eg. NEA) does not impose a nuisance buffer greater than 50m.

Business 2 ( B2 ) These are areas used or intended to be used for industry, warehouse, utilities and telecommunication uses, whereby the business uses will imposed nuisance buffer more than 50m and within health and safety buffers. Special industries such as manufacture of industrial machinery, shipbuilding and repairing, may be allowed in selected areas subject to evaluation by the Competent Authority.

Business Park The Master Plan 2008 zoning of "Business Park" specifically sets aside land for non-pollutive industries and businesses that engage in high-technology, research and development (R&D), high value-added and knowledge-intensive activities. Business parks and science parks are examples of developments within this zoning.

Echelon Alexandra is a new condominiumproject in Alexandra Road. This 45 storey new residential property is estimated to yield about 508 units.

NEW PROJECT UPDATE NOTICE

This is a upcoming new condominium for year 2012/2013. Limited information available at the moment. More information will be provided on this site once it’s released and upon confirmation. Alternatively you may register with us to get first hand information in your mailbox.

Echelon @ Alexandra Road is located within an established residential estate and a short 10 minutes’ drive to Orchard Road, the Central Business District, Marina Bay and the Sourthern Waterfront area where VivoCity and Sentosa are located.

Situated within a short walking distance to the Redhill MRT Station, future residents will enjoy convenient access to all parts of Singapore via the MRT system. The future residential development will also be well connected to major arterial road and expressways such as Alexandra Road, Tanglin Road and Ayer Rajah Expressway.

Residents at Echelon @ Alexandra Road should prepare to be overwhelmed by diverse and convenient shopping, dining and entertainment options available at nearby Tiong Bahru Plaza, Alexandra Village, Anchorpoint Shopping Centre, Queensway Shopping Centre and IKEA Alexandra.

For the adventurous, you can enjoy quiet respites at the nearby recreational parks at Telok Blangah Hill and Mount Faber. Recreational facilities such as the Delta Sports Hall and Swimming Complex are also located just a short 10 minutes stroll away.

Echelon @ Alexandra Road will provide ideal homes for families with school-going children. Reputable schools such as Crescent Girls’ School and Gan Eng Seng Primary School are just located within the vicinity.

Echelon @ Alexandra Road will be offering attractive discounts to customers who register their interest with us, and purchase their unit on the PREVIEW DAY. You can download the available Floor Plan and Brochure here, before contacting one of our sales person to assist you with any enquiries or register your interest to be invited to our Prelaunch Preview for PRIORITY SELECTION and BESTEST PRICE!

Reason to invest in Echelon @ Alexandra

Established residential estate in District 3, Singapore
Close proximity to world famous Orchard Shopping Belt
Exclusive, Prestigious and Glamours Singapore urban city living.
Majestic view of the City & southern Waterfront Area.
Efficient and Spacious Layout with no space wasted.
Developed by renewed award winning developer – City Developments Limited.
3 Minutes walk to Redhill MRT Station
5 Minutes drive to Orchard Shopping Belt
6 Minutes Drive to Marina Bay Financial Centre * Central Business District
3 to 5 Bus Stop to Clark Quay, Chinatown, Boat Quay & River Valley to vast amount of Dining and Entertainment options
1 MRT Stop to Tiong Bahru Plaza and only several MRT stations away from everywhere that matters.
Wide array of amenities within 1 KM Vicinity.
Easy access to One North, Science Park & National University of Singapore
High Quality Finishes and Branded Appliances that accompanies your new abode.

d'leedon condo – the distinctive 36-storey condominium prominent for their petering vertical silhouette – is designed by internationally-renowned architect Zaha Hadid.

Located in prime district 10, D’Leedon is a short walk to the upcoming Farrer Road MRT station. Nearby recreational facilities includes the Singapore Botanic Garden and Bougainvillea Park. Residents can get their necessities at the Empress Road Market and Food Centre or at the shopping centres close by. There is a string of shops, restaurants, and eating establishments at Holland Village, which is in close proximity.

Getting to the CBD takes about 15 minutes drive, whereas Orchard Road is a mere 5-minutes drive along Holland Road.

Facilities include two large swimming pools, children and relaxation pools, two clubhouses and a series of party houses, as well as outdoor fitness facilities.

The absence of high-rise buildings in the near surroundings gives unobstructed sightlines to and from the towers, making it a prestigious and highly visible site across the whole city. Views to Bukit Timah Hill, Singapore Botanic Gardens, MacRitchie Reservoir and the Orchard Road city skyline are also optimised.

Location: Farrer Road/King’s Road/Leedon Heights (District 10)
Tenure: 99 years leasehold w.e.f. 8 April 2010
Expected Completion: 2015
Site Area: est. 840,049 sqft
Total Units: 1,715 residential units (including 12 villas) + 8 retail shops
Total Blocks: 7, 36 storeys each

Unit Mix:
1 bedroom ~ approx 592-840 sqft
2 bedroom & 2+1 bedroom ~ approx 786-1216 sqft
3 bedroom & 3+1 bedroom ~ approx 1076-1873 sqft
4 bedroom ~ approx 1615-2443 sqft
Garden House ~ approx 3703-6534 sqft
Penthouse ~ approx 2852-6265 sqft