With a muted demand for industrial property space, the emergence of eCommerce in Singapore is being heralded by CBRE Research as a major growth sector.
More firms are investing in research and development to tap future sectors such as Internet of Things (IoT) innovation centres and robotics, according to CBRE’s latest research.
“Interest in setting up data centres in Singapore remains healthy, given its well-established infrastructure and strong connectivity,” says CBRE executive director of industrial and logistics services, Brenda Ong.
“LinkedIn’s announcement that it is setting up a data centre spanning 23,500 sqft (2183 sqm) in Jurong, its first data centre outside the US, is a strong indicator of the outlook for data centres.”
At the same time, the logistics sector has been upgrading to handle more specialised cargo.
“This growing need for more specific requirements such as cold-chain logistics and the emergence of eCommerce will be the main growth sectors of the industrial and logistics space.”
Greater regional integration through the ASEAN Economic Community and Trans-Pacific Partnership will also be a boon for the logistics sector, says the report.