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Business parks and high-specification premises in Singapore are anticipated to surge two-fold by 2030, given the “strong understanding” that the authorities aim to cement the city-state’s status as a major technology hub in Asia.
“The Singapore government has been supporting the transformation with new national directives aimed at creating innovative new industrial and technology parks,” Colliers International told Singapore Business Review.
The authorities here are also piloting schemes on versatile land uses for industrial purposes, said the property consultancy, adding that it has ranked the republic alongside Bangalore as the region’s leading tech hubs.
Singapore was ranked first in the region for the availability of talented manpower, a robust education system and research capabilities, as well as a promising global outlook.
It also topped Colliers’ ranking overall for employment considerations such as a low corporate tax rate, political stability, ease of doing business, well-developed infrastructure and the population’s fluency in English.
Moreover, the consultancy is upbeat that Singapore’s industrial landscape will be positively transformed by the Fourth Industrial Revolution (4IR), as industrialists tap new technologies like simulation, autonomous robots, augmented reality, analytics and big data, along with additive manufacturing and the Internet of Things (IOT).
Colliers also thinks that Singapore has the necessary ingredients for high-tech industrial premises. “In our view, industrial spaces of the future should provide the 3 “A’s”: Accessibility, Affordability, Adaptability,” it explained.
In fact, the city-state has enticed Facebook to construct a S$1.4 billion data centre here. The company said it selected Singapore for its first data centre in Asia due to its talented manpower, access to fibre and robust infrastructure. Another reason is the strong government support provided by agencies like JTC and the Singapore Economic Development Board.
Facebook’s 11-storey data centre spanning 170,000 sq m will be located in Tanjong Kling, with completion targeted by 2022.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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