pstrongAs of 2Q23, total industrial stock in the West Planning Region reached 261.3 million sq ft./strong/p pUpcoming demand for Singapore's logistics and warehouse space is likely to gravitate toward Tuas and its surrounding areas, thanks to the Tuas Mega Port.
Upcoming demand for Singapore's logistics and warehouse space is likely to gravitate toward Tuas and its surrounding areas, thanks to the Tuas Mega Port.
Over the same period, the Tuas Planning Area also saw a surge of more than 50% in its completed industrial stock to 78.3 million sq ft as of 2Q23, with single-user factory making up the majority , followed by logistics/warehouse space , and multiple-user factory space . JLL said the refreshed Logistics Industry Transformation Maps for logistics and sea transport will also catalyse demand for logistics/warehouse space.
"The wider West Planning Region yields similar numbers – the estimated annual average supply of 2.3 million sq ft from 2023 to 2026, also falls short of the 10-year annual average net absorption of 2.9 million sq ft from 2013 to 2022," JLL added.
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