INDUSTRIAL rents for most segments in Singapore will moderate in 2020 as shrinking global demand takes its toll on the local manufacturing sector, Cushman & Wakefield said on Wednesday. Read more at The Business Times.
GrabFood's first cloud kitchen in Singapore at Lam Soon Industrial Building along Hillview Avenue spans over 6,000 sq ft and houses 10 merchants.INDUSTRIAL rents for most segments in Singapore will moderate in 2020 as shrinking global demand takes its toll on the local manufacturing sector, Cushman & Wakefield said on Wednesday.
Location will be a big factor in determining rental growth of different micro markets during the Covid-19 outbreak, the real estate services firm added. It expects factory rents and better-quality industrial buildings to be more affected by Covid-19 due to their outlying locations. Cushman & Wakefield said the volume of new leases will fall as a majority of firms have shelved their plans to relocate and renewed their current lease instead.
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