Q4 2020 Singapore Industrial Market Update (Knight Frank)

From Q4 2020 to 2024, some 53.8 million sq ft gross floor area (GFA) of industrial space is slated to be completed. Of these, about 43.2% of the upcoming supply is expected to be completed in 2021, with a significant proportion being multiple-user and single-user factory spaces. Coupled with the phased withdrawal of government fiscal support for businesses, multipleuser factory prices and rents are likely to come under pressure, falling by not more than 5% in 2021 while single-user factories could fare slightly better.