News

Ubi Techpark Relaunch A Success

255 units sold in five months

Singapore, 11 March 2003 - Ubi Techpark, an industrial park owned by CapitaLand and MCL Land has to date sold 76% (or 538 units) of its 708 units. Sales have been brisk since the developments relaunch on 25 September 2002, with 255 units sold within five months. The success of the relaunch was due mainly to attractive pricing.

The relaunch of Ubi Techpark has been a success due to the attractive prices of its units which ranged from S$142,000 to S$1,882,500. With a borrowing interest rate at around 4%, and the prices at an average of S$159 psf, businesses currently renting their premises would find buying the units a better alternative, said Mr Dennis Yeo, Managing Director of Colliers International. Ubi Techpark is jointly marketed by property consultants, Colliers International and Knight Frank.

Trend to purchase

The success of the Ubi Techpark relaunch has demonstrated a trend among local small and medium-sized enterprises (SMEs) to buy rather than lease industrial space, with industrial parks located near residential areas being the most popular. According to Knight Frank, this trend is a result of the present prices of industrial space as property values have already dropped to attractive levels. This has enabled SMEs to capitalise on lower mortgage repayments currently available.

Mr Danny Yeo, Executive Director (Industrial) of Knight Frank said, Businesses find that they are better off buying these premises. Most find that their current rents of say S$1.30 psf per month is more than sufficient to repay the monthly instalment if they bought a unit at Ubi Techpark. It makes immediate sense for these businesses to turn their liability into an asset. Furthermore, it is usually a better option to be an owner of their premises rather than to rent continuously. On top of this, Ubi Techpark is already a completed project. Interested businesses can have an actual feel of the work environment and move in immediately if they take a liking to the premises.

Superior facilities and amenities

Buyers are also attracted to Ubi Techparks superior facilities and amenities. In line with the provision of responsive space tailored for tenants work, live and play needs, Ubi Techpark features a 16,000 sq ft food court, a clinic, and tennis and basketball courts.

Common meeting facilities are also available. In addition to communal facilities, the industrial park has carpark lots that can cater up to 1,000 vehicles. No expense has been spared for the finishes in the industrial park. Corridors are finished with heavy duty homogenous tiles and executive toilets are provided on every floor.

Added Knight Franks Mr Danny Yeo, The well-designed layout, the use of quality building materials and the provision of comprehensive communal facilities have in combination made Ubi Techpark the undisputed No. 1 industrial development in Singapore. There are very few developments that offer these value-added features to buyers.

Ubi Techpark is a 12-ha modern industrial park located in the Paya Lebar commercial hub along Ubi Avenue 1. It comprises a total saleable area of 2 million sq ft of landed parcels, landed terrace, strata terrace, and flatted factories. Buyers include trading agencies, engineering and IT companies, design houses and R&D labs.

About CapitaLand Commercial
CapitaLand Commercial is the largest manager of office and retail space in Singapore with interests in the gateway cities of London, Shanghai, Hong Kong, Tokyo and Kuala Lumpur. Its vision is to move beyond building mere concrete structures to create living, vibrant and integrated communities where people love to work, shop and entertain.

In Singapore, the company manages seven prime retail properties : Plaza Singapura and Scotts Shopping Centre along the prime Orchard Road/Scotts Road shopping belt; Junction 8 and Tampines Mall located in densely populated suburban centres; Liang Court, popular with the Japanese community; Clarke Quay, Singapores first festival village by the Singapore River; as well as specialist mall Funan The IT Mall.

CapitaLand Commercial is the commercial property business unit of CapitaLand, one of the largest listed real estate companies in Asia.

About CapitaLand

CapitaLand is one of the largest listed property companies in Asia. Headquartered in Singapore, the multinational company's core businesses in residential, commercial and industrial property and property-related services, such as property funds and real estate financial products, are focused in selected gateway cities in China, Australia and the UK. In these countries, CapitaLand is in partnership with reputable local players and has established a management team that understands the market, business practices and socio-economic factors.

The Company's hospitality businesses, in hotels and serviced residences, span more than 50 cities around the world. CapitaLand also leverages on its significant real estate asset base and market knowledge to develop fee-based products and services in Singapore and the region.