116 view s
Graph from Savills

Islandwide vacancy rates for business parks inches up to 19.5% in 3Q23

The poor take-up rate in the East Planning Region affected vacancy levels.

Despite improvement in the vacancy rates in Mapletree Business City, Science Park and CleanTech Park, the islandwide vacancy level inched up to 19.5% in 3Q23.

According to Savills, the islandwide vacancy level was affected by the
poor take-up rate in the East Planning Region, where the vacancy level went up to 27.0% (+0.7 ppt QoQ), the highest since 2009. 

Savills attributed the increase in vacancy level in the East Planning Region to ESR Bizpark @ Chai Chee, where the vacancy level rose by 1.2 ppt QoQ to 24.8%. 

The real estate expert added that the vacancy level in Changi Business Park also increased by 0.5 ppt QoQ to a record high of 27.4% in Q3.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!