Industrial

Overall rents in APAC increased 10.4% during the same period.

Newly developed regions will be the primary source.

The highest sales of over 22 hectares came from Karawang.

It’s for a total GFA of over 120,000sq ft.

Business park rents dipped 0.5% during the quarter.

Several data centres are currently nearing completion.

The projects will add over 80,400sqm to the city’s stock.

Gross takeup was at 211,300sqm in Q1.

Expect a higher vacancy rate as a result.

This figure is 67% above the 10-year quarterly average.

Over 80% of these completions were pre-committed.

This is the highest vacancy rate since 2018.

Most of the renewals were driven by 3PL operators.

Demand was driven by the 3PL and retail sectors.

It was a project spanning nearly 22,000sqm.

The projects completed in Q1 were mainly single-user facilities meant for self-use.