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A look inside the Tuas Biomedical Park. Photo grabbed from JTC Corp

Singapore rising as an ideal destination for life sciences real estate: CBRE

Life sciences hubs: Biopolis, Singapore Science Park and Tuas Biomedical Park.

The Lion City is emerging as a primary location for life sciences in the region thanks to strong government support, robust infrastructure and an end-to-end value chain, according to CBRE.

In a new report, CBRE said the city-state is considered a “comprehensive market” for the life sciences sector, being one of the few cities in Asia Pacific to have end-to-end life sciences value chain from manufacturing, R&D, sales to logistics.

Singapore’s biomedical manufacturing is also experiencing sustained growth at an 8.3% CAGR from 2020 to 2023 thanks to supportive government policies and strong healthcare demand domestically.

The city-state also offers three innovation clusters: Biopolis for biomedical research in One North; Singapore Science Park for agritech, biotech, IT and chemical sectors; while the Tuas Biomedical Park hosts cutting-edge manufacturing by leading life sciences companies.

“These clusters not only reinforce Singapore’s global leadership in research and manufacturing but also set the stage for future expansions and discoveries,” CBRE said.

“With a robust pipeline of developments, Singapore is strategically positioned to fuel the next growth phase in this vital industry,” it added.

Rents and prices of industrial properties across the city-state are projected to ease this year, according to a separate report by Colliers.

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