Understanding Strata Subdivision Restrictions in Singapore’s CBD
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Understanding Strata Subdivision Restrictions in Singapore’s CBD
Strata subdivision in Singapore's Central Business District (CBD) has become a pivotal aspect of urban development, reflecting the increasing demand for efficient land use in a densely populated city-state. As the CBD continues to evolve, the concept of strata subdivision allows multiple owners to hold individual titles to properties within a larger building or complex. However, this practice is heavily regulated to ensure that developments align with urban planning requirements and community interests. Understanding the intricacies of strata subdivision restrictions is essential for stakeholders, including developers, investors, and existing property owners, as it directly influences property rights and development opportunities.
An Overview of Strata Subdivision in Singapore's CBD
Strata subdivision is a mechanism that enables property developers in Singapore to create individual ownership for parts of a larger property, typically in the form of residential or commercial units. This model is particularly prevalent in the CBD, where space is limited and the demand for office space, retail outlets, and residential units is high. In the context of the CBD, strata titles allow multiple businesses and individuals to occupy the same building while maintaining ownership of their respective units, fostering a vibrant economic environment.
The legal framework for strata subdivision is governed primarily by the Building Maintenance and Strata Management Act (BMSMA) and the Land Titles (Strata) Act. These acts outline the processes for the creation of strata titles, management of shared spaces, and the rights and responsibilities of owners within a strata scheme. Furthermore, the Urban Redevelopment Authority (URA) plays a crucial role in regulating land use and ensuring that developments in the CBD adhere to zoning laws and urban planning guidelines.
In recent years, there has been a growing trend towards mixed-use developments in the CBD, combining residential, commercial, and recreational spaces under one strata title. This approach not only maximizes land use but also promotes a more integrated urban living experience. As developers navigate the complexities of strata subdivision, it becomes imperative to understand the regulations that govern these developments to ensure compliance and sustainability.
Key Restrictions Affecting CBD Strata Subdivisions
Several key restrictions impact strata subdivisions in Singapore's CBD, primarily aimed at maintaining the integrity of urban planning and ensuring a harmonious living and working environment. One of the most significant restrictions is the adherence to land use zoning regulations imposed by the URA. These regulations dictate what types of developments are permissible in specific areas, thereby influencing the design and functionality of strata properties.
Additionally, the BMSMA imposes strict requirements on the management and maintenance of common property within a strata scheme. This includes the formulation of a management corporation, which is responsible for the upkeep of shared spaces and facilities, as well as enforcing the rules that govern the behavior of individual owners and tenants. Failure to comply with these management obligations may lead to disputes and legal challenges, which can adversely affect property value and the overall tenant experience.
Another critical aspect is the limitation on the maximum number of strata units that can be created within a development, as well as the minimum size requirements for individual units. These constraints ensure that developments are not only functional but also contribute positively to the urban landscape. Developers must carefully assess these restrictions during the planning stage to mitigate risks and optimize their investment outcomes.
Implications of Strata Regulations on Property Development
The regulations governing strata subdivisions in Singapore's CBD carry significant implications for property development and investment strategies. Compliance with zoning laws and strata management requirements can dictate the feasibility of a project, with non-compliance potentially leading to legal repercussions and financial losses. Developers must engage in thorough due diligence before embarking on strata projects to navigate the complex regulatory landscape effectively.
Moreover, the restrictions on unit sizes and the number of strata titles can influence the marketability of a development. Developers need to align their designs with the preferences of potential buyers or tenants while also adhering to regulatory constraints. This balancing act may require innovation in design and the incorporation of flexible spaces that can adapt to the changing needs of occupants and businesses within the CBD.
Finally, the collective nature of strata ownership can lead to heightened levels of governance and collaboration among unit owners. While this can foster a sense of community, it may also result in conflicts and disagreements over the management of common property and facilities. Understanding the implications of strata regulations is crucial for all parties involved, as it shapes the operational dynamics of a development and can ultimately determine its success in the competitive CBD market.
In conclusion, understanding strata subdivision restrictions in Singapore's CBD is essential for anyone involved in property development or ownership. The intricate balance of regulations governing land use, strata management, and unit configuration not only shapes the urban landscape but also influences the viability of development projects. As Singapore's CBD continues to evolve, stakeholders must remain informed about these regulations to navigate the complexities of property ownership and development effectively. Through proactive engagement with the legal framework and an appreciation for the collaborative nature of strata living, developers and investors can position themselves for success in this dynamic urban environment.
One of the affected offices for sale property is 108 Robinson. As such, only full floor units are available for sale.
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Orchard Road Rejuvenation
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Introduction to Orchard Road Renewal:
Orchard Road, widely recognized as Singapore's premier shopping and entertainment district, is set to undergo a major revitalization to enhance its appeal as a lifestyle destination. The Urban Redevelopment Authority (URA) has announced detailed plans to transform Orchard Road into a dynamic, green, and multi-functional area that caters to a variety of interests and age groups.
Key Aspects of the Rejuvenation Plan:
1. Green Corridor Development:
- Integration of Lush Greenery: Orchard Road will be transformed into a green corridor that connects the Singapore Botanic Gardens, Istana, Fort Canning Park, and the Singapore River. This six-kilometer stretch will feature abundant greenery, creating a serene and visually appealing environment.
- Expansion of Istana Park: Istana Park will be expanded to three times its current size, adding new park areas and green attractions. This expansion aims to offer more recreational spaces and enhance the overall green landscape of Orchard Road.
- Creation of Orchid-Themed Garden: The Penang Road Open Space nearby will be developed into an Orchid-themed garden, adding botanical charm and providing a tranquil retreat for visitors.
2. Enhanced Public Spaces:
- Pedestrian-Friendly Enhancements: The plans emphasize pedestrian-friendly initiatives, including wider sidewalks, shaded walkways, and more seating areas. These improvements aim to create a comfortable and enjoyable experience for pedestrians.
- Interactive Installations: New interactive installations and art pieces along Orchard Road will add a dynamic and engaging element, attracting tourists and locals alike. These installations will celebrate Singapore's culture and heritage with a modern twist.
- Transformation of Dhoby Ghaut: Dhoby Ghaut will be reimagined as a family-friendly lifestyle zone. Lush greenery will be extended from Penang Open Spaces to Dhoby Ghaut Green, creating a continuous green belt. Nature play gardens and activity spaces will be introduced to cater to families and children.
3. Retail and Lifestyle Enhancements:
- Diversified Retail Experience: The rejuvenation aims to diversify the retail experience by incorporating a mix of traditional and modern retail concepts. Pop-up stores, experiential retail, and flagship stores of global brands will add vibrancy to Orchard Road.
- Integrated Lifestyle Concepts: Orchard Road will evolve into a multi-functional precinct with integrated lifestyle concepts. This includes the introduction of wellness centers, co-working spaces, and cultural hubs, providing a holistic experience for visitors.
- Nightlife and Entertainment Improvements: The plans also focus on enhancing Orchard Road’s nightlife and entertainment options. The introduction of rooftop bars, live music venues, and night markets will create a bustling atmosphere and attract a diverse crowd.
4. Sustainability Initiatives:
- Sustainable Design Principles: The rejuvenation incorporates sustainable design principles, including energy-efficient lighting, rainwater harvesting systems, and the use of eco-friendly materials. These initiatives aim to reduce environmental impact and promote sustainability.
- Solar Energy Integration: Solar panels will be installed on rooftops (such as the one at VisionCrest Orchard Office Building) and other suitable areas to harness solar energy, contributing to the precinct’s sustainability goals and reducing reliance on conventional energy sources.
5. Improved Connectivity:
- Enhanced Transport Links: The rejuvenation will improve transport links within Orchard Road, making it more accessible. This includes better integration with MRT stations, bus stops, and cycling paths, facilitating seamless connectivity for commuters.
- Introduction of Shuttle Services: New shuttle services and electric buses will provide convenient transport options within the precinct, reducing traffic congestion and promoting eco-friendly travel.
Future Impact:
The comprehensive rejuvenation of Orchard Road is expected to have a transformative impact on the precinct, making it a world-class lifestyle destination. The enhancements will attract more visitors, boost tourism, and create a vibrant community space that caters to various interests. The integration of green spaces, innovative retail concepts, and sustainable practices will ensure that Orchard Road remains a dynamic and appealing destination for years to come.
As Orchard Road becomes a more vibrant, accessible, and attractive destination, both residential and commercial properties in the area are likely to experience significant value appreciation. This will make Orchard Road a prime location for real estate investment, attracting both local and international investors and further driving up property values.
Overall, the rejuvenation of Orchard Road represents a forward-thinking approach to urban development, blending tradition with modernity and sustainability, and reinforcing its status as an iconic landmark in Singapore.
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What to take note in renting an office space in Singapore?
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Renting an office unit involves careful consideration of several key factors. Here are some points to note:
- Caution in the use of Office in an Industrial Space:
- The Urban Redevelopment Authority (URA) mandates that at least 60% of the total floor area in an industrial development should be allocated for core industrial activities.
- Ancillary activities, including offices, staff canteens, and showrooms, supporting the primary industrial functions, can collectively occupy up to 40% of the total floor area.
- Rental and Service Charge:
- Rental rates are typically expressed as gross rent in Singapore dollars per square foot per calendar month (S$psf/mth), comprising Base Rent plus Service Charge.
- Tenants are generally required to pay rent on a monthly basis, and this amount is subject to Goods and Services Tax (GST).
- A Service Charge, usually ranging from S$1.00 to S$1.30 per sq ft per month, may be imposed to cover centralized air-conditioning during office hours, maintenance, security of common areas, and other building-related expenses. Adjustments may apply based on changes in maintenance costs.
- Lease Period:
- The standard lease period is typically two to three years. However, negotiations for longer leases are possible for multiple floor tenancies or anchor tenants.
- Leases extending beyond seven years are required to be registered with the Singapore Land Authority.
- Option to Renew:
- The option to renew is generally for a period of two to three years and is typically subject to agreement on the rent or its review based on prevailing market rates.
- Rental caps, though not commonly practiced in Singapore, may be agreed upon between the tenant and the landlord in the Lease Agreement.
- Fitting Out Period:
- The fitting-out period is the duration between the Possession Date and the Lease Commencement Date, allowing tenants to renovate their new premises.
- Depending on the size and prevailing market conditions, this period can vary from two weeks to three months. During this time, landlords often waive the payment of the Service Charge, although exceptions may exist.
- Security Deposit:
- A security deposit, usually equivalent to three to six months of gross rent, is payable upon lease confirmation. This deposit is refundable (without interest) at the end of the lease.
- The specific amount depends on the financial standing and paid-up capital registered under the Accounting and Corporate Regulatory Authority (ACRA).
- Letter of Intent (LOI):
- The LOI is a non-legally binding document outlining the principal terms and conditions negotiated by both the tenant and the landlord.
- The landlord responds to the submitted LOI and may propose counter-terms.
- Letter of Offer (LOO):
- After mutual agreement on the main terms and conditions, the landlord issues the legally binding LOO and a copy of the Lease Agreement, detailing all terms and conditions.
- Upon agreement on the details, the tenant signs the LOO and pays a booking fee equivalent to one month's rental (subject to prevailing GST).
- Lease Agreement:
- The landlord's legal counsel presents the tenant with the Lease Agreement, outlining the terms and conditions agreed upon in the LOO
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Office Space Market Singapore Third Quarter of 2023
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Commercial Office Market Singapore 3rd Quarter of 2023
Demand for Office Space Singapore
As of the third quarter of 2023, the demand for office spaces in the Central Business District (CBD) is mainly driven by financial and professional service sectors. These sectors, including finance, legal, and asset management, accounted for 58% of new leases, a significant increase from the 26% recorded for the entire year of 2022. Despite global economic uncertainties and geopolitical tensions, Singapore is seen as an attractive destination, especially for becoming a regional wealth hub. This attractiveness has led to increased demand for office spaces from businesses in asset management, financial services, and legal sectors. While the overall demand from the technology sector has slowed, there are still some tech companies looking to expand their presence in Singapore.
Interestingly, the vacancy rates in the central area dropped to 10.2% in Q3, the lowest in 2.5 years. This decline is attributed to a notable increase in net demand for CBD office spaces, reaching 398,264 square feet in Q3, the most substantial growth since Q1 2020.
However, it's observed that the high-interest rate environment might be causing institutional investors to hesitate from making significant purchases. During the quarter, there were no notable office transactions, as many investors are adopting a cautious "wait-and-see" approach until the market undergoes a repricing.
Supply for Office Space Singapore
There's a limited amount of office space available in the Central Business District (CBD) until next year, and many businesses are choosing to renew their rental contracts because it's more cost-effective than moving to a new location.
For the high-quality Grade A offices in downtown and Orchard areas, the average rent per square foot per month increased from S$11.44 in Q2 to S$12.31 in Q3. These are usually modern or recently renovated offices with larger spaces that command higher rents.
For other office spaces in Singapore (Category 2), the average rent slightly decreased from S$6.25 per square foot per month in Q2 to S$6.24 in Q3, according to the Urban Redevelopment Authority (URA).
By the end of Q3, the total office space available across the island was about 1,097,000 square meters, higher than the 927,000 square meters at the end of Q2. More office space is expected to be available in 2024 with the completion of IOI Central Boulevard Towers and Keppel South Central, adding around 1.9 million square feet of new office space to the CBD. This could lead to increased competition among businesses for office rentals.
Office Space Rental Situation
The cost of renting office spaces in the central part of Singapore continued to increase in the third quarter of 2023. According to data from the Urban Redevelopment Authority (URA), the available office space decreased by 42,000 square meters, contributing to a 4.9% rise in office rents during Q3. This increase was higher than the previous quarter's 2.3%.
The demand for Grade A offices, which are high-quality and often more modern, might be a key factor in this rent rise. Landlords are maintaining their rental prices due to low vacancy rates and increasing operating costs.
Interestingly, despite economic uncertainties, office rents have remained robust, showing a 12.8% increase in the first nine months of 2023.
Looking ahead, Grade A office rents are expected to grow by 1.5% to 2% for the entire year, surpassing the predicted economic growth but at a slower pace compared to the significant 8.3% rental growth observed in 2022.
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Food Factory Regulations Singapore
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Food Factory Regulations Singapore
Singapore Food Agency (SFA) which is a government statutory board, licenses all establishments in food processing foundations where food is fabricated or manufactured, prepared and packing with the objective of distribution to wholesalers and retailers. Some of the food processing such as pastry or bakery and flour candy confectionery industrial facilities, dairy preparing plants, noodles and pasta makers, surimi-based items production lines and, and so on. Licenses issued by SFA also apply to butcher or slaughter houses and cold stores that are utilised for storage of meat or fishery items. Retailing of food such as for restaurants, kiosks, cafe, groceries, food wagon and catering are licensed by the National Environment Agency (NEA).
All food companies authorised by SFA are subjected to customary assessments to guarantee safe food and fit for consumption. Laboratory analysis could be conducted to check for consistence with the Food Regulations.
Grading
There are 4 types of grading done by the AVA on food establishments; "A", "B", "C" or “D”. This is based on food safety and cleanliness guidelines done yearly. The aim is to allow food companies to continuously upgrade, to be competitive and produce safe and wholesome food. Consumers can be assured of the high standards when they purchase the food. A list of food establishments with their respective grades can be found at AVA website.
Inspection and Sampling
Regular inspections are done for all food processing establishments, cold room storage and slaughter houses. Frequency of the inspections are dependent on the grade and compliance history of the establishments. Usually done unannounced to get a more accurate assessments.
All food companies authorised by AVA are subjected to customary assessments to guarantee safe food and fit for consumption. Laboratory analysis could be conducted to check for consistence with the Food Regulations.
Food Storage Warehouse
Legal Power
SFA is able to take legal action against any licensee who is found in rupture of licensing conditions or contravene any provision of the Wholesome Meat and Fish Act and the Sale of Food Act. SFA may suspend or repudiate the permit that was issued to the licensee until they are satisfied that with the rectification implementation.
Licensing and Registration
There are limited establishments that were licensed to handle food by SFA. There were 1,623 licences for food processing establishments, 407 central kitchen and 15 slaughter houses in 2022. The number of food retail establishments was 50,828, out of which there were 407 central kitchens. SFA plays a critical and strict role in assuring food security and food safety in Singapore.
Reference: Singapore Food Agency Annual Corporate Report 2022/2023
Food Factory For Sale
There is a great opportunity to own a Freehold Food Factory - CT FoodNex at Mandai Estate. Designed to handle food in almost all aspect, it is a ramp up 20 footer truck food factory that users can load and unload their goods at the door step. Completion of this is estimated to be in 2027.
- CT FoodNex, a brand new Freehold Ramp Up Food Factory at Mandai Estate is newly launched and more than 65% has been sold
- Located in Mandai Food Zone, in one of the sought-after addresses in food zone area of District 25.
- It is a 10-storey Multi-User B2 Industrial Food Factory with a Canteen on the ground level
- This commercial food factory has 110 spacious units and each unit is equipped with its own exhaust and refuse chute.
More details at www.CosySingapore.com/ct-foodnex
Please contact us if you have interest in this.
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How to assess the best commercial property for rent?
How to assess the best commercial property for rent in Singapore?
Assessing a good commercial unit for rent involves considering several factors to ensure it aligns with your business needs and goals. Here are some key aspects to consider when evaluating a commercial unit for rent:
Location:
Choose a location that is easily accessible for customers, suppliers, and employees. Consider factors such as proximity to transportation routes, target market, competition, and overall visibility.
In Singapore, the major business nodes are at the Central Business District, Tampines Regional Centre, Woodlands Regional Centre, and Jurong Lake District. Industrial estates and business parks are located at various areas, including One North, International Business Park, Punggol Digital District, Jurong Industrial Estate, and more.
Rental rates at premium locations in the Core Central Region or nearer to the Core City are generally higher than those at industrial parks and business parks.
Size and Layout:
Evaluate the size and layout of the unit to ensure it can accommodate your business operations effectively. Consider factors such as floor area, ceiling height, storage space, and any specific requirements for your industry or business type. Utilize space planning guides, such as those offered by CosySingapore, to estimate the right size for different areas within your organization.
Foot Traffic and Target Market:
Assess the potential foot traffic in the area and whether it aligns with your target market. Consider the surrounding businesses, nearby amenities, and any local attractions that may attract potential customers. Access to ample parking facilities or proximity to MRT stations can also be important considerations.
Infrastructure and Utilities:
Assess the potential foot traffic in the area and whether it aligns with your target market. Consider the surrounding businesses, nearby amenities, and any local attractions that may attract potential customers. Access to ample parking facilities or proximity to MRT stations can also be important considerations.
Evaluate the availability and quality of essential infrastructure and utilities, including electricity, water supply, HVAC systems, internet connectivity, and telecommunications infrastructure.
Condition and Maintenance:
Inspect the condition of the commercial unit, both interior and exterior, for signs of wear and tear, structural issues, or maintenance requirements. A well-maintained unit will create a positive impression and save you from potential future costs.
Lease Terms and Flexibility:
Review the lease agreement carefully, considering rental price, lease duration, renewal options, and additional costs or fees. Ensure that the lease terms are favorable and flexible enough to accommodate your business's growth or changes in the future.
Parking and Accessibility:
Assess the availability of parking facilities for customers and employees, as well as the overall accessibility of the unit. Consider public transportation options, nearby parking lots, and compliance with accessibility standards.
Safety and Security:
Evaluate the safety and security measures in place, including surveillance systems, alarm systems, fire safety equipment, and emergency exits. Ensuring the safety of your employees, customers, and assets is crucial.
Zoning and Legal Compliance:
Verify that the commercial unit is zoned for your specific type of business or activities and complies with all applicable regulations, permits, licenses, and building codes.
Cost and Financial Viability:
Consider the rental cost in relation to your budget and projected revenue. Assess the overall financial viability of the unit, including potential return on investment, operating expenses, and any additional costs associated with the unit.
It is recommended to visit the commercial unit in person, thoroughly inspect the space, and ask relevant questions to the landlord or property manager. Additionally, consider seeking professional advice from a real estate agent or lawyer to ensure a comprehensive evaluation and understanding of the terms and conditions before making a final decision.
At CosySingapore.com, we provide a detailed checklist for each of our tenant clients. A checklist can serve as a helpful tool to ensure that all necessary considerations and requirements are addressed before signing a lease agreement. It promotes a structured and systematic approach to evaluating, selecting, and securing the right commercial space that aligns with the tenant's needs, priorities, and legal obligations.
Additionally, there are listings available for various types of properties for rent, including
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Singapore’s ’30 by 30’ Food Security Goal
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Aiming to enchance Food Security and Sustainablity
Issue: More than 90% of food is currently imported.
In Asia, there is rapid food demand growth with meat and seafood consumption projected to increase by 33% by 2030. There is falling yield growth, and yields of corn and soybean are more than 50% below the United States. There is also limited access to arable land and limited related issues.
Singapore’s reliance on imports for 90% of its food puts it at the mercy of external forces in exporting countries, the majority of which are beyond the Republic's control. According to Singapore Food Agency (SFA), Singapore imports food from some 170 countries.
Moreover, the supply is not consistent due to climate change, extreme weather incidents, loss of land to produce food and outbreaks in diseases of animal stock and plants. This has resulted in many countries prioritising feeding their own population.
An Economist Intelligence Unit report assesses Singapore to rank first on the food security index. However, when considering climate-related and natural resource risk factors, Singapore falls to 12th place.
There has to be a change. Home-based producers now meet less than 10% of Singapore's nutritional needs.
Solution: To Transform Singapore’s Agri-food Industry
Announced in 2019, SFA has set a goal for locally produced food to meet 30% of Singapore's nutritional needs by 2030, reducing the country's reliance on imports and its vulnerability to supply interruptions. One that is productive, innovative and sustainable.
Therefore, the Government came up with four strategies to tackle this:
- Develop food-related spaces and infrastructure such as the Agri-Food Innovation Park (AFIP) which will help by colocating urban agriculture, aquaculture and novel food activities. Exploiting alternative spaces such as vacant state buildings, rooftops and the deep sea
- Harness innovation and research. Tapping on technology, expanding agri-food production and automating systems via robotics and sensors. Funding of up to S$144 million was committed to the Singapore Food Story R&D Programme.
- Grow the industry and ecosystem. Grooming experts in the field with Singaporean talent in urban food production processes and business models. For example, Republic Polytechnic offers a part-time diploma course in urban agricultural technology, covering technologies for food production, farming processes and management.
- Engage the public. Encouraging consumers in choosing homegrown produce with initiatives with SG framers' markets and supermarkets. An initiative by SFA is coming up with a new brand logo to make local produce easier to be identified. Raising awareness on food security.
There is this Business Opportunity with major opportunities in scaling up existing production and producing future foods.
To increase productivity, the production of vegetables, fish, eggs and other primary produce is geared up to be high-tech. Challenges that need to be faced are limited land allocated for farming, high production costs, low consumer awareness, and resistance to purchasing pricier local produce. The government is exploring partnership opportunities such as using commercial spaces for urban farming and master planning in new infrastructure in the Agri-Food Innovation Park.
There are also opportunities in food research such as for novel foods, alternative proteins and focusing on nutrient-dense food.
Singapore's ’30 by 30’ goal will not only enhance Singapore’s food security but also in regional collaboration for a rapidly urbanising Asia.
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Piet Mondrian Abstract Art
One School Impressionist Art - Piet Mondrian (Inspiration for Facade Design of CT Foodnex)
The 19th-century painting movement known as Impressionism was started by a group of French artists who were centered in Paris. Their artwork rose to fame starting in the 1870s.
Claude Monet, Camille Pissarro, and Auguste Renoir are the prominent artists.
Dutch painter Piet Mondrian rose to prominence in the 20th century for his abstract works.
He used primary-colored planes and intersecting lines at right angles to create his well-known artwork.
With his early works, Piet Mondrian demonstrated an interest in impressionist methods and this style of art.
Under the influence of pointillism and Fauvism, Mondrian employs vivid, clean colors and expressive brushwork, much like Van Gogh.
What makes Mondrian so renowned?
The De Stijl movement, which limited form to its most fundamental components and eschewed visually perceived reality as subject matter, was cofounded in 1917 by Piet Mondrian.
This standard is reflected in works like Composition with Red, Blue, and Yellow (ca. 1930).
What does Mondrian's art mean?
The dynamic, evolutionary forces that shape nature and the human experience, according to Mondrian, may be represented by his abstraction in a way that can be understood by everyone.
In fact, he thought that abstraction offers a more accurate representation of reality than illusionistic pictures of things in the physical world.
What made Piet Mondrian's work distinctive?
Piet Mondrian was a significant non-representational painter whose work developed over his lifetime into his own distinctive style, which he called "neo-plasticism."
This work was Mondrian's representation of his profoundly held philosophical convictions rather than drawing on outside artistic inspirations or conventional approaches.
What are the prices of Mondrian's works?
The realized prices for Piet Mondrian's works have ranged from 25 USD to 51,000,000 USD depending on the size and medium of the piece of art.
Since 1998, Composition No. II, which was auctioned at Sotheby's New York in 2022, was sold for the artist's highest ever auction price of 51,000,000 USD.
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Sungei Kadut Transformation To Eco-District
Sungei Kadut Transformation Into An Exciting Eco-District Singapore
Sungei Kadut is one of Singapore’s oldest industrial estate that is overdue for a makeover. A multimillion-dollar facelift is planned to transform Sungei Kadut into an exciting high tech Eco-district, to keep up with the times.
Covering over 700 football fields, it will include new growth industries, such as agri-tech and environment tech. It will primarily has four zones:
Sungei Kadut Central:
- A hub for light industries, such as furniture and lifestyle eco-system
- High rise developments with shared facilities
- Dining, leisure and recreational amenities
- Sungei Kadut MRT Station which will be an interchange
Sungei Kadut North:
- Recycling Facilities
- Construction and Timber Industries
- Waste management Companies
Sungei Kadut South:
- New ways of co-living and co-working
- Residential and business community
- Park connectors
- Biodiversity trails
Agri-food Innovation Park (AFIP):
- Food related R&D Facilities
- High Tech Farms
- Indoor Farming
- Agricultural hatcheries
- Farm to Fork restaurants
- Farmers’ Market
For the future, Sungei Kadut will be a place for residents and the public to relax, with farmers’ markets and farm-to-fork restaurants.
Trendspace will be for furniture and related industries, whereas TimMac will be for timber, metal and machinery industries. There is also Kranji Green at Sungei Kadut North which will accommodate waste management and recycling firms.
Agri-Food Innovation Park (AFIP)
Agri-Food Innovation Park with a large size of around 18 hectare will be home to companies and research and development centres catering to high tech production segments including indoor farming, aquaculture hatcheries and alternative protein manufacturers. This will bring us to one step closer to Singapore’s goal of producing 30% of its nutritional needs by 2030, a crucial initiative for future stability.
This will attract high value, knowledge-based jobs such as systems engineers, plant scientists and aquaculture nutritionists. The objective is making Singapore to be a leading urban agriculture and aquaculture technology hub. This will also help to improve the productivity of the local farms and strengthen Singapore food security.
Sungei Kadut MRT Station
The Sungei Kadut MRT Station will be a planned station in between the Kranji and Yew Tee MRT Stations. Come mid-2030s, this will be an interchange with 2 major MRT lines; the North South Line (NSL) and Downtown Line (DTL) via a connection from Bukit Panjang MRT Station.
Sungei Kadut station will serve residents in nearby towns, such as Yew Tee and Choa Chu Kang. It will also benefit those working at the up and coming industrial developments in Sungei Kadut.
Another significant note is that the North South Line will connect to Woodlands, within 3 stops. This will give business in this area more business advantages in terms of manpower access and logistics.
Expansion of Food Factories and Facilities at Mandai
Mandai is strategically transforming to a major Food Processing Business District in Singapore, keeping close to Sungei Kadut Eco District. There is much potential for food production synergy.
There are a number of established food factories and facilities already established at Mandai. More areas, especially those with under-utilised plot ratio, may be developed into food factories.
In 4th quarter 2022 and 1st quarter 2023, there will be two freehold food factories to be launched. Each cater to different segment of the markets. One of them essentially caters to small production units and the other cater to mid to large production units.
If you are keen to know about one which allow 40 footer access at the ground floor and 20 footer access at level 2 to level 2, this would be CT Foodnex.
Contact us and we will be able to guide you though these two freehold food factories.
Commercial & Industrial Properties
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CosySingapore Consultants
Commercial Properties Singapore
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Hotline: +65 6100 8123
Email: CosySingapore@gmail.com
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URA bars strata subdivision for commerical properties in Central Area
URA bars strata subdivision for commerical properties in Central Area
Latest on Commercial Property at Raffles Place
URA Circular, dated 15 March 2022 indicated:
Restrictions On The Strata Subdivision of Commercial Properties
With the latest move by URA (dated 15 March 2022) to bar strata subdivision for commercial properties in the Core City, existing strata office units will become more valuable due to the dearth of supply in the future.
Commercial & Industrial Properties
Have a Chat With Us
CosySingapore Consultants
Commercial Properties Singapore
8.00 am to 10.00 pm
Hotline: +65 6100 8123
Email: CosySingapore@gmail.com
Scan this code for Whatsapp