Is PDD likely to put pressure on occupancies and rents in other parts of Singapore? JTC, which oversees the use of industrial and business park land in the country, also acts as both a developer and a manager. Market observers note that the organisation is acutely aware of the supply and demand dynamics within the business park sector.
As the Punggol Digital District (PDD) takes shape, it could have both positive and less favourable impacts on some listed entities. JTC says that once completed, PDD will offer a total gross floor area (GFA) of 307,950 sqm. According to JTC, 65% of the 175,000 sqm of business park and office space has been pre-committed.
CapitaLand Ascendas REIT (CLAR) is the second-largest S-REIT by assets and market capitalisation. It owns properties across three key segments: business space and life sciences, logistics and industrial, and data centres. It invests in developed markets anchored in Singapore.
