DEMAND for JTC Corp's industrial properties fell in the third quarter but remained generally positive.
In its third-quarter report released yesterday, Singapore's largest industrial landlord said the net amount of prepared land leased eased to 24.5ha from 67.9ha in the second quarter. But this is above the 19.6ha in the same period last year.
Demand for industrial land hit a 10-year high last year, largely driven by local companies.
About 21.6ha of such vacant land that firms can use to develop their own facilities was returned, up from 18.2 ha in the second quarter.
The electronics cluster accounted for the bulk of the returned land.
In the other category of ready-built facilities, the net take-up rate reached 24,400 sq m, down from 42,900 sq m in the second quarter and 95,300 sq m in the same quarter last year. Net new demand for space in business parks fell to just 700 sq m, from 11,300 sq m in the previous quarter.
But the take-up of multi-tenanted factories rose to 11,100 sq m in the third quarter, from 3,400 sq m in the second, after accounting for a largely unchanged level of terminations.
JTC announced last month that it would sell some of its ready-built facilities into a real estate investment trust, as part of an earlier announced move to focus on a strategic role.
