There are approximately 7.6 million sqft per annum in the pipeline until 2022.
This chart from Edmund Tie and Co. reveals that there are approximately 26.7million sqft net lettable area (NLA) or 7.6 million sqft per annum in the supply pipeline until 2022, about 40-50% lower than the past 3- and 5-year averages.
There are a total of seven data centres (DC) in the pipeline, totalling 2.6m sqft. DC provider Digital Realty Trust has unveiled plans to develop their third DC, whilst Google and STT GDC are constructing their third and seventh DCs in Singapore, respectively—reflecting strong demand for the sector as businesses undergo digital transformation.
Meanwhile, although there are six business park developments in the pipeline of circa 1.4 million sqft, most of these are either owner-occupied or have been largely pre-committed. The largest of these is Surbana Jurong’s new global HQ and Campus at the Jurong Innovation District, which come at approximately 400,000 sqft.
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