新加坡工业和物流市场2025年第二季度更新

Number of Industrial Tenancies11.7%Q-O-Q | 7.6%Y-O-YS$2.242.6Upcoming Supply (Q2 2025 to 2029)MILLIONSF GFAelectronics PMI continued to slip inMay, with the overall PMI recording49.7 and theelectronics PMI recording49.9. After the two consecutive monthsof contraction, the overall PMI andelectronics PMI cautiously returned toexpansionist territory with a reading of50.0 and 50.1 respectively, as marketsentiments and business confidenceadjusted to a new normal.RENTS REMAINED STEADY,PRICES EDGED UPWARDSSUPPORTED BY GROWINGINVESTOR DEMANDThe Singapore industrial property sectorremained resilient, supported by steadybuyer interest with an increasinglyactive investment market in Q2 2025.Transaction activity was supported byacquisitions of various leasehold assets,with total sales value increasing 185.5%q-o-q to S$2.2 billion from S$766.9million in Q1 2025 (Exhibit 1). Inaddition, the number of transactions inQ2 2025totalled424, rising by 4.7% q-o-q from 405 transactions. Investor andbuyer interest remained robust,supported by a wide variety of propertytypes. Among the key transactionsconcluded during the quarter were thesales of the datacentreat 9 Tai SengDrive for S$455.2 million, and businesspark properties, The Strategy forS$280.0 million, and 5 Science ParkDrive for S$245.0 million, all of whichwere completed in May.Industrial leasing activity also pickedup pace in Q2 2025, increasing 11.7% q-o-q and 7.6% y-o-y for a total of 3,360rental transactions. The value of rentaltransactionstotalledS$30.2 million, aquarterly growth of 18.0% and annualgrowth of 5.3%. Even so, in June 2025,island-wide unit rents of the diversetypes of industrial properties across the25th, median and 75th percentilesremained relatively unchanged.BILLION185.5%Q-O-Q | 103.2%Y-O-YTotal Industrial Sales Median Rent (S$ psf pm)Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has over 27,000 people, across 742 offices in 61 territories. TheGroup advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. KnightFrank has a strong presence in Singapore with a headoffice and two subsidiaries: Knight Frank Property & Facilities Management and KF Property Network. For further information about the Company, please visitwww.knightfrank.com.sg.This report is published for general information only. Although high standards have been used in the preparation of the information, analysis, views and projections presented in thisreport, no legal responsibility can be accepted by Knight Frank Research or Knight Frank for any loss or damage resultant from the contents of this document. As a general report, thismaterial does not necessarily represent the view of Knight Frank in relation toparticular propertiesor projects. Reproduction of this report in whole or in part is allowed with properRecent PublicationsTHE WEALTH REPORT 2025Q1 2025 INDUSTRIALREPORTSUBSCRIBE to updates andreports delivered to your inboxSIGN UP ONLINEMARKET OUTLOOKThe broader industrial investmentenvironment in Singapore was resilientand is expected to remain on stablefooting, notwithstanding the ongoingheadwinds. Due to Singapore’sreputation as a safe and strategicbusiness hub, investors have beenscouring the market for opportunitiesto acquire logistics and multiple-userindustrial assets. Yields are expected toremain firm, and there is appetite forwell-located, income-generating assets,especially if the remaining tenure is of20 years or more.Nevertheless, the globalmanufacturing outlook is expected toget worse before it gets better, anddespite Singapore’ssafe havenstatus itwill be tumultuous times for industrialreal estate to weather. Factory,business park and warehouse rentalgrowth is likely to flatten out in H22025.But given the buying interest fromend-users, as well as both institutionaland private wealth investors, industrialprices could track moderate gains ofbetween 3% to 5% for the entire year. SETUPS AND EXPANSIONS FOR CONTINUITYDespite the current turmoil among the goods producing countries of the world, Singaporecontinued to be an attractive and trusted investment and business hub for investors andbuyers. The current tariffs imposed on Singapore by the US is at the baseline of 10%,minimal compared to other exporting nations in South-East Asia, and a growingconsideration among globally mobile manufacturers. Several international companiesopened, expanded, or were in the process of developing new facilities in Singapore. Anexample wasCariflex, a synthetic rubber latex maker that opened the first polyisopreneplant in May. The facility in Jurong Island spans 6.1 hectares, which also happens to bethe biggest in the world.Another notable manufacturer, Alcon Manufacturing andLogistics, an eye-care device firm expanded its contact lens manufacturing operations inSingapore to support growing demand. The new manufacturing and logistics facilityopened in Tuas in June. Advanced