These were the notable industrial investment deals in Singapore in Q4

Some firms were compelled to exit, but other manufacturers expanded with new investments.

As the manufacturing environment in Singapore becomes increasingly sophisticated, Knight Frank noted that cost pressures compelled some to exit.

Mercedes-Benz sold the balance lease of its property at Jurong to JTC for S$46.1 million in November and shut down their operations to move to Johor Bahru in Malaysia. Swedish oat milk producer Oatly also shut down its manufacturing facility in December to support its asset-light supply-chain strategy.

Here’s more from Knight Frank:

However, with the historic signing of the Johor-Singapore Special Economic Zone (JB-SG SEZ) in January 2025, there are now opportunities for industrial enterprises in Singapore to mitigate costs by taking advantage of more affordable real estate, labour, and other resources across the border through the offshoring of certain functions, while maintaining key services in Singapore.

At the same time, other advanced electronics manufacturers continued to expand and/or break ground with new investments in Singapore, drawn to its stability and reliability in a world that is growing more unpredictable. VisionPower Semiconductor Manufacturing Company will develop a S$10.5 billion semiconductor plant in Tampines Wafer Park that is expected to operate at full capacity by 2029. 

Micron Technology broke ground in Woodlands for an advanced packaging facility, ploughing in S$9.5 billion to construct a new facility adjacent to its existing plant. This first of its kind in Singapore is envisaged to start operating in 2026. The expansion in capacity of these large global manufacturers spinoff into avenues of growth for supporting companies such as local Small and Medium Enterprises (SMEs).