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4.0 Private Warehouse Space
4.1
Existing Supply
Total private warehouse stock increased by 2.3% (1.7
million sq ft) from 74.4 million sq ft in 2010 to 76.1
million sq ft in 2011. Though higher than the increase
of 0.9 million sq ft in 2010, this was still lower than the
increases in 2008 (3.9 million sq ft) and 2009 (2.9 million
sq ft). Major new warehouse developments completed
in 2011 include (Table 1.8):
Table 1.8
Major Private Warehouse Developments
Completed (2011)
Developer
Location Planning
Region
NLA (sq ft)
Pan Asia
Logistics
Singapore Pte.
Ltd.
Changi
North Way
East
186,200
SM Intergrated
Transware Pte.
Ltd.
Tanjong
Penjuru
West
806,200
Yang Kee
Holdings Pte.
Ltd.
Jurong
Pier Road
West
387,500
Pandan
Logistics Hub
Pandan
Road
West
304,600
Source: URA, DTZ Consulting, February 2012
4.2
Potential Supply
According to the URA, there is about 11.2 million
sq ft
(14)
of private warehouse space in the pipeline as
at Q4 2011. Of this, 58% (6.5 million sq ft) is under
construction while the remaining 42% (4.7 million sq
ft) is still being planned. A large amount of warehouse
potential supply (45%, 5.1 million sq ft) is expected to
complete in 2013 (Figure 1.11).
Figure 1.11
Potential Supply of Private Warehouse Space
by Development Status
(15)
and Expected Year of
Completion
Source: URA, DTZ Consulting, February 2012
Table 1.9 highl ights major pr i vate warehouse
developments which are scheduled to complete in
2012.
Table 1.9
Major Private Warehouse Developments
Completing (2012)
Developer/
Development
Location Planning
Region
GFA (sq
ft)
Yang Kee
Holdings Pte.
Ltd.
Jurong
Pier Road
West
614,726
BP-SDV Pte.
Ltd.
Pioneer
Turn/
Pioneer
View
West
453,268
Second
Development
Pte. Ltd.
Sunview
Way
West
399,341
Source: URA, DTZ Consulting, February 2012
4.3
Demand and Occupancy
Average annual demand for private warehouse space
from 2002 – 2011 was 2.2 million sq ft, exceeding
average annual supply of 1.9 million sq ft for the same
period. Annual demand for private warehouse space
has been greater than the annual supply since 2004
except during the economic crisis in 2009 which saw
annual demand for private warehouse space shrinking
from 4.5 million sq ft in 2008 to 0.6 million sq ft in 2009.
The development of Singapore into a global integrated
logistics hub has been instrumental in contributing
to the healthy demand for private warehouse space.
Annual demand for private warehouse space in 2011
was 3.7 million sq ft, double that of the annual supply of
1.7 million sq ft. The annual demand in 2011 was also
almost double that of the annual demand in 2010 (1.9
million sq ft), a further attestation to the thriving logistics
industry in Singapore.
2012
6,000
5,000
4,000
3,000
2,000
1,000
0
2013
2014 2015 2016 >2016
’000 sq ft (GFA)
■
Under Construction
■
Planned
(14) Includes all private warehouse space in the pipeline, regardless of
size or planning status.
(15) Includes the supply from new development and redevelopment
projects with provisional and written permission as well from
other categories of supply e.g. (i) projects with outline provisional
permission, (ii) developments submitted for planning approval and
which are under consideration, (iii) projects on awarded GLS sites
for which plans have not been submitted for approval, (iv) planned
projects in the GLS programme (sites on the confirmed list and
triggered sites on the reserve list, (v) planned public developments
for which plans have not been submitted to URA for planning
approval.
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