Singapore’s ’30 by 30’ Food Security Goal
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Aiming to enchance Food Security and Sustainablity
Issue: More than 90% of food is currently imported.
In Asia, there is rapid food demand growth with meat and seafood consumption projected to increase by 33% by 2030. There is falling yield growth, and yields of corn and soybean are more than 50% below the United States. There is also limited access to arable land and limited related issues.
Singapore’s reliance on imports for 90% of its food puts it at the mercy of external forces in exporting countries, the majority of which are beyond the Republic's control. According to Singapore Food Agency (SFA), Singapore imports food from some 170 countries.
Moreover, the supply is not consistent due to climate change, extreme weather incidents, loss of land to produce food and outbreaks in diseases of animal stock and plants. This has resulted in many countries prioritising feeding their own population.
An Economist Intelligence Unit report assesses Singapore to rank first on the food security index. However, when considering climate-related and natural resource risk factors, Singapore falls to 12th place.
There has to be a change. Home-based producers now meet less than 10% of Singapore's nutritional needs.
Solution: To Transform Singapore’s Agri-food Industry
Announced in 2019, SFA has set a goal for locally produced food to meet 30% of Singapore's nutritional needs by 2030, reducing the country's reliance on imports and its vulnerability to supply interruptions. One that is productive, innovative and sustainable.
Therefore, the Government came up with four strategies to tackle this:
- Develop food-related spaces and infrastructure such as the Agri-Food Innovation Park (AFIP) which will help by colocating urban agriculture, aquaculture and novel food activities. Exploiting alternative spaces such as vacant state buildings, rooftops and the deep sea
- Harness innovation and research. Tapping on technology, expanding agri-food production and automating systems via robotics and sensors. Funding of up to S$144 million was committed to the Singapore Food Story R&D Programme.
- Grow the industry and ecosystem. Grooming experts in the field with Singaporean talent in urban food production processes and business models. For example, Republic Polytechnic offers a part-time diploma course in urban agricultural technology, covering technologies for food production, farming processes and management.
- Engage the public. Encouraging consumers in choosing homegrown produce with initiatives with SG framers' markets and supermarkets. An initiative by SFA is coming up with a new brand logo to make local produce easier to be identified. Raising awareness on food security.
There is this Business Opportunity with major opportunities in scaling up existing production and producing future foods.
To increase productivity, the production of vegetables, fish, eggs and other primary produce is geared up to be high-tech. Challenges that need to be faced are limited land allocated for farming, high production costs, low consumer awareness, and resistance to purchasing pricier local produce. The government is exploring partnership opportunities such as using commercial spaces for urban farming and master planning in new infrastructure in the Agri-Food Innovation Park.
There are also opportunities in food research such as for novel foods, alternative proteins and focusing on nutrient-dense food.
Singapore's ’30 by 30’ goal will not only enhance Singapore’s food security but also in regional collaboration for a rapidly urbanising Asia.
Piet Mondrian Abstract Art
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One School Impressionist Art - Piet Mondrian (Inspiration for Facade Design of CT Foodnex)
The 19th-century painting movement known as Impressionism was started by a group of French artists who were centered in Paris. Their artwork rose to fame starting in the 1870s.
Claude Monet, Camille Pissarro, and Auguste Renoir are the prominent artists.
Dutch painter Piet Mondrian rose to prominence in the 20th century for his abstract works.
He used primary-colored planes and intersecting lines at right angles to create his well-known artwork.
With his early works, Piet Mondrian demonstrated an interest in impressionist methods and this style of art.
Under the influence of pointillism and Fauvism, Mondrian employs vivid, clean colors and expressive brushwork, much like Van Gogh.
What makes Mondrian so renowned?
The De Stijl movement, which limited form to its most fundamental components and eschewed visually perceived reality as subject matter, was cofounded in 1917 by Piet Mondrian.
This standard is reflected in works like Composition with Red, Blue, and Yellow (ca. 1930).
What does Mondrian's art mean?
The dynamic, evolutionary forces that shape nature and the human experience, according to Mondrian, may be represented by his abstraction in a way that can be understood by everyone.
In fact, he thought that abstraction offers a more accurate representation of reality than illusionistic pictures of things in the physical world.
What made Piet Mondrian's work distinctive?
Piet Mondrian was a significant non-representational painter whose work developed over his lifetime into his own distinctive style, which he called "neo-plasticism."
This work was Mondrian's representation of his profoundly held philosophical convictions rather than drawing on outside artistic inspirations or conventional approaches.
What are the prices of Mondrian's works?
The realized prices for Piet Mondrian's works have ranged from 25 USD to 51,000,000 USD depending on the size and medium of the piece of art.
Since 1998, Composition No. II, which was auctioned at Sotheby's New York in 2022, was sold for the artist's highest ever auction price of 51,000,000 USD.
Sungei Kadut Transformation To Eco-District
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Sungei Kadut Transformation Into An Exciting Eco-District Singapore
Sungei Kadut is one of Singapore’s oldest industrial estate that is overdue for a makeover. A multimillion-dollar facelift is planned to transform Sungei Kadut into an exciting high tech Eco-district, to keep up with the times.
Covering over 700 football fields, it will include new growth industries, such as agri-tech and environment tech. It will primarily has four zones:
Sungei Kadut Central:
- A hub for light industries, such as furniture and lifestyle eco-system
- High rise developments with shared facilities
- Dining, leisure and recreational amenities
- Sungei Kadut MRT Station which will be an interchange
Sungei Kadut North:
- Recycling Facilities
- Construction and Timber Industries
- Waste management Companies
Sungei Kadut South:
- New ways of co-living and co-working
- Residential and business community
- Park connectors
- Biodiversity trails
Agri-food Innovation Park (AFIP):
- Food related R&D Facilities
- High Tech Farms
- Indoor Farming
- Agricultural hatcheries
- Farm to Fork restaurants
- Farmers’ Market
For the future, Sungei Kadut will be a place for residents and the public to relax, with farmers’ markets and farm-to-fork restaurants.
Trendspace will be for furniture and related industries, whereas TimMac will be for timber, metal and machinery industries. There is also Kranji Green at Sungei Kadut North which will accommodate waste management and recycling firms.
Agri-Food Innovation Park (AFIP)
Agri-Food Innovation Park with a large size of around 18 hectare will be home to companies and research and development centres catering to high tech production segments including indoor farming, aquaculture hatcheries and alternative protein manufacturers. This will bring us to one step closer to Singapore’s goal of producing 30% of its nutritional needs by 2030, a crucial initiative for future stability.
This will attract high value, knowledge-based jobs such as systems engineers, plant scientists and aquaculture nutritionists. The objective is making Singapore to be a leading urban agriculture and aquaculture technology hub. This will also help to improve the productivity of the local farms and strengthen Singapore food security.
Sungei Kadut MRT Station
The Sungei Kadut MRT Station will be a planned station in between the Kranji and Yew Tee MRT Stations. Come mid-2030s, this will be an interchange with 2 major MRT lines; the North South Line (NSL) and Downtown Line (DTL) via a connection from Bukit Panjang MRT Station.
Sungei Kadut station will serve residents in nearby towns, such as Yew Tee and Choa Chu Kang. It will also benefit those working at the up and coming industrial developments in Sungei Kadut.
Another significant note is that the North South Line will connect to Woodlands, within 3 stops. This will give business in this area more business advantages in terms of manpower access and logistics.
Expansion of Food Factories and Facilities at Mandai
Mandai is strategically transforming to a major Food Processing Business District in Singapore, keeping close to Sungei Kadut Eco District. There is much potential for food production synergy.
There are a number of established food factories and facilities already established at Mandai. More areas, especially those with under-utilised plot ratio, may be developed into food factories.
In 4th quarter 2022 and 1st quarter 2023, there will be two freehold food factories to be launched. Each cater to different segment of the markets. One of them essentially caters to small production units and the other cater to mid to large production units.
If you are keen to know about one which allow 40 footer access at the ground floor and 20 footer access at level 2 to level 2, this would be CT Foodnex.
Contact us and we will be able to guide you though these two freehold food factories.
URA bars strata subdivision for commerical properties in Central Area
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URA bars strata subdivision for commerical properties in Central Area
Latest on Commercial Property at Raffles Place
URA Circular, dated 15 March 2022 indicated:
Restrictions On The Strata Subdivision of Commercial Properties
With the latest move by URA (dated 15 March 2022) to bar strata subdivision for commercial properties in the Core City, existing strata office units will become more valuable due to the dearth of supply in the future.
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Commercial Property Research – Industrial Property 4th Quarter 2021
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Commercial Property Research - Industrial Property Singapore 4th Quarter 2021
Overview
Despite the slight slowdown in Q4 2021, the industrial property market has had an exceptional year in terms of price growth and leasing activity, against the backdrop of the recovering economy.
Based on advance estimates, the Singapore economy grew for the fourth straight quarter, rising by 5.9% YOY in Q4 2021. In 2021, Singapore’s GDP grew by 7.2%, according to the Ministry of Trade and Industry (MTI). The manufacturing sector led the growth in Q4 2021, expanding by 14% YOY. Growth during the quarter was supported by output expansions in all clusters.
In addition, the recent strong non-oil domestic exports (NODX) performance and continued expansion Singapore’s manufacturing Purchasing Managers’ Index (PMI) suggest that the manufacturing and export environment had been key pillars of growth in Q4 2021.
Singapore’s economy is projected to grow by 3% to 5% in 2022. Downside risks to watch will include global monetary policy tightening, potential emergence of new virus variants and China’s economic slowdown.
JTC noted that any rise in occupancy rates of industrial spaces are likely to be moderated by new completions in 2022, although some delays are still expected in completions.
Rents and Occupancies
- • Occupancies for overall industrial properties remained stable in Q4 2021 amidst tight supply and resilient demand.
- • Data from JTC showed that the overall occupancy rate stood at 90.1% in Q4 2021 unchanged from the previous quarter. When compared against Q4 2020, occupancies were up by 0.2 percentage-points (ppt) in Q4 2021.
- • The stable occupancies were likely due to the persistent delays in new completions, as worksite activity continued to be weighed down by labour constraints, due to border restrictions on the entry of migrant workers. While construction has picked up since 2H 2021, completions are slow – only about 11,000 sqm of industrial space was added to the available stock in Q4 2021, compared to the increase of 228,000 sqm in Q3 2021.
- • Despite overall occupancies being flat, some industrial property segments posted a QOQ decline: Warehouses (-0.1 ppt QOQ); and Single User Factory space (-0.1 ppt QOQ).
- Business park spaces saw improved occupancies in Q4 2021, growing by 0.2% ppt QOQ, whereas the Multiple-User Factory segment saw a 0.4% ppt QOQ growth in the occupancy rate.
- JTC noted that overall rentals rose by 0.2% QOQ in Q4 2021, with all segments, except Business Parks, posting growth over the previous quarter. On a year-on-year basis, overall rents are up by 2% in Q4 2021.
Industrial Property Leasing Activity
- While leasing demand softened slightly in Q4 2021 owing to the year-end seasonal lull, industrial leasing activity for the whole of 2021 hit new highs due to the recovering economy and expanding output across all sectors.
- In Q4 2021, there were 3,130 tenancies – representing a 10.6% decrease from 3,501 contracts in the previous quarter. For 2021, a record 13,081 tenancies were inked.
- Total rent value grew slightly in Q4 2021, growing by 1.1% QOQ to $22.3 million from about $22.05 million in Q3 2021. For the full year, total leasing value amounted to $87.4 million, surpassing the recent peak in 2019 which recorded a rental value of $84.2 million.
Commercial Property Research – Office Property 4th Quarter 2021
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Commercial Property Research - Office Property 4th Quarter 2021
Overview
In Q4 2021, Singapore’s economy continued to grow strongly amid improving global and trade outlook. Based on advance GDP estimates, the Singapore economy grew strongly by 5.9% YOY and 2.6% QOQ in Q4 2021. Based on these estimates, the economy has grown by 7.2% for the full year, according to the Ministry of Trade and Industry (MTI). The economy is projected to grow by 3% to 5% in 2022.
The office property market ended the year on a strong note with several big-ticket deals inked during the quarter. Market observations suggest that demand for office space is expected to remain buoyant with a number of businesses looking to expand against a backdrop of the global economic recovery and limited availability of prime office space.
Rentals are expected to grow at a faster pace in 2022, which could further pique the interest of investors in Singapore's prime office assets and drive capital value. The economic expansion along with Singapore’s commitment towards the reopening of its economy and its borders, will boost the office market’s investment and occupier demand in 2022.
Sales Transactions and Prices
- According to the URA office price index, the prices of office space contracted by 1.8% QOQ in Q4 2021, continuing the downward trend from the 2.4% contraction in Q3 2021 – the slip in prices was largely attributed to the Central Area office prices which contracted by 2.7% QOQ. For the whole year, office prices have contracted by 5.8%.
- Based on caveats lodged, the total value of transactions in Q4 2021 surged to $2.03 billion, up sharply from $241.9 million in Q3 2021. This took 2021 sales to $4.79 billion, which does not capture deals for which caveats were not lodged. The total value of deals transacted in 2021 has surpassed the last peak in 2012, where values hit $3.7 billion.
- In Q4 2021, there were 98 sales transactions, reflecting a 30.6% QOQ increase from the 75 deals done in Q3 2021. For the whole year, there were 346 office sales – the highest since 2014.
- The highlight of Q4’s office transactions was the divestment of the 23-storey Grade A office building on One George Street by OGS LLP – a limited liability partnership, of which CapitaLand Commercial Trust (CCT) owned 50 per cent of – to SG OGS, a private firm, in mid-November for $1.28 billion. Just a month later, the building was then acquired from SG OGS by a joint venture between JPMorgan Global Alternatives and Nuveen Real Estate for $1.29 billion. A caveat has yet to be lodged for the second deal, and should it be included – it brings the total value of office investment deals in Q4 to more than $3.3 billion.
- Based on caveats, the next biggest office deal of Q4 was the sale of 112 Robinson, a 14-storey freehold commercial building on 112 Robinson Road for $269.7 million. The purchase price works out to $2,925 per square foot based on a net lettable area (NLA) of 92,205 sq ft. The buyer is Alpha Eins (SG) Pte Ltd, an entity of Munich-based family office AM Alpha. The 112 Robinson deal is believed to be the family office’s first direct real estate acquisition in Singapore.
Rentals and Leasing Trends
- Despite activities in the year-end being typically slower, due to the seasonal lull, the leasing market in Q4 2021 fared relatively well compared to the same period in the last couple of years.
- The URA office rental index showed that rents inched up by 0.9% in Q4 2021, reversing from the 3.5% decline in Q3 2021. For the whole of 2021, office rentals have grown by 1.9%
- According to Realis data, the number of office rental transactions rose by 6.2% QOQ to 1,385 contracts in Q4 2021. On a YOY basis, the number of rental contracts was up by 7.9%.
- Total rental value contracted slightly by 0.7% QOQ to $27.0 million in Q4 2021. However, on a YOY basis, overall leasing value grew by 26.6% from $21.3 million in Q4 2020.
- 2021 was the year of “flight-to-quality” where a number of occupiers seized the chance to relocate to a better location or space with better specifications. Many occupiers also conducted space-rationalisation reviews in view of more workers telecommuting.• Rentals have recovered strongly on the back of the economic recovery and Singapore’s steady roll out of the vaccination programme – both of which has helped to boost the confidence among businesses and office occupiers. Delays in office supply completions due to construction disruptions has kept office supply fairly tight and rentals firm.
- For 2022, demand for office space will likely be primarily led by tech and finance institutions as well as corporates that are increasing headcounts for business expansion, as the global economy return to normalcy. As of January 2022, 50% of the workforce are allowed to return to their workplace, bring more buzz to the office districts.
- Some leasing trends that may gain traction in 2022 include co-working, offices that allow flexible space configurations as well as offices with green features and high-quality air filtration systems.
Office Vacancies
- Latest URA data showed that the island-wide vacancy rate of office space has decreased slightly. Vacancies dipped to 12.8% as of Q4 2021 from 12.9% in the previous quarter.
- Vacant Private Sector Office Space island-wide declined to 952,000 sqm (nett) as at Q4 2021, down from 967,000 sqm in Q3 2021. The bulk of vacant space in Q4 was located in the Downtown Core at 533,000 sq m.
- According to the URA, the amount of occupied office space fell by 10,000 sqm (nett) in Q4 2021, following the decrease of 5,000 sqm (nett) in Q3 2021. Meanwhile, the stock of office space decreased by 23,000 sqm (nett) in Q4 2021.
- In terms of supply in the pipeline, there was a total of 786,000 sqm gross floor area (GFA) of supply as at end of Q4 2021, compared with the 755,000 sqm GFA of space in Q3 2021.
- In 2022, the limited incoming office supply – estimated at 78,000 sqm - should help to support occupancies in the near-term. At the same time, there may be an uptick in leasing demand from occupiers that have been displaced from buildings that are slated for redevelopment, such as AXA Tower and Fuji Xerox Towers.
Market Outlook
Looking ahead, office prices and rentals are expected to continue to recover in 2022, in light of limited Grade A new office supply and the positive economic outlook.
While the prospects in the office property market are generally looking up, there are some downside risks including the impending interest rate hikes and rising inflation, potential emergence of new virus variants, supply chain disruptions as well as China’s economic slowdown.
Growth in the office market may also be uneven, with investors and occupiers being more selective; prime office assets that have higher specifications and located in choice locations may be more sought after, compared to Grade B office spaces or buildings outside the downtown core.
Urban Development Authority (URA) Definition of Shop and Restaurant
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Urban Development Authority (URA) Definition of Shop and Restaurant
|
S/No |
Use |
Definition | Examples |
|
1 |
Shop |
“shop” –
(a) Define as premises used for any trade or business where its primary purpose is the sale of goods or foodstuffs by retail or the provision of services (b) Includes furniture shop, departmental store, pawnshop, dispensary, medical clinic, dental clinic*, beauty salon, ticket agency, travel agency, confectionery or take-away food-shops that retails food or drinks for consumption away from the premise and does not provide for the consumption of food or drinks on premise. This may include an ancillary food preparation area. (c) Does not include (i) Preparation of food for sale by distribution or catering even though the food is consumed away from the premises; (ii) Storage or wholesale of goods or foodstuffs; (iii) Sale of coffins, sale of motor vehicle parts and accessories. (iv) Repair and servicing of motor vehicles. (v) Petrol station, laundry shop, dry cleaner’s shop, funfair, market, nightclub, bar, pet shop, showroom, motor vehicle showroom, amusement centre, health centre, being outlet or an office. (vi) Any part of an industrial retail building or a warehouse retail building used for business zone retail; and * Conversion of shop units to medical clinic/dental clinic on an en-bloc basis (e.g. change of use involving the entire floor(s) or substantial part of a floor or the building) is subjected to prior planning permission and clearance from relevant agencies (e.g. LTA, NEA, MOH). |
Retail shops:
Departmental store, Supermarket, Provision shop, Minimart, Fashion boutiques, Florist, Gift shop, Electrical appliances / equipment, Computer & Accessories, Chinese medical hall, Furniture shop, Home furnishings & Textile shop, Stationary, Aquarium, Shops selling takeaway food and drinks/ beverages with no consumption on the premises. Services: Barber Shop, Beauty Salon, Hairdressing Salon, Photo Studio, Tailor Shop, Foot Reflexology, Chinese Physician/ Acupuncturist, Medical Clinic, Dental Clinic Receiving Agency Launderette (collection of goods to be washed/cleaned elsewhere), Money Changer and Travel/Ticket Agency. *Take-away food-shops: Shops selling curry puffs, rice dumpling, pastries, buns, bubble tea and ice-cream, barbecue meat etc. purely for takeaway and without tables and chairs for dining at the premises. Light and simple ancillary food preparation such as baking, microwaving and steaming of food may be allowed in a take-away food-shop. The operator has to comply with NEA’s licensing conditions and ensure that the activities do not cause fumes, smell or other nuisances. |
|
2 |
Restaurant |
“restaurant” –
(a) Premises that are primarily used for the sale of foodstuff for consumption at the premises without performance of live music or live entertainment. (b) Includes a coffee shop, eating house, snack bar, cafeteria or foodcourt, fast-food restaurant, tea house. (c) Does not include a canteen, bar or pub.
|
Fast-food Restaurant, Foodcourt, Coffee Shop, Ea1ng-House, Snack-bar, Teahouse, Cafeteria |
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Industrial Market Segment Outlook 2020 Singapore
Commercial & Industrial Properties Singapore
Sales & Rental of Commercial and Industrial Properties
(65) 6100 8123
Industrial Market Segment Singapore - Outlook 2020
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