Which industrial projects were completed in Singapore in Q3?

There were fewer new completions during the quarter.

A JLL report recently noted that World Gateway 2 (Phase 2) and addition/alteration works at Toll City (60 Pioneer Road) were completed in Singapore in Q3 2025. CapitaLand Ascendas REIT (CLAR) also completed its redeveloped facility at 5 Toh Guan Road East (meant for lease) ahead of schedule.

“In August 2025, KWE Singapore broke ground for the redevelopment of its warehouse at 20 Changi South Avenue 2. The new ramp-up facility with an air-conditioned mezzanine area for temperature-controlled cargo is expected to complete in 2027,” the report added.

Here’s more from JLL:

There were more leasing enquiries compared to Q2 2025. Third-party logistics service providers (3PLs) and end-users were seeking ambient space (at least 100,000 sq ft) and chiller/freezer space (40,000 sq ft to 120,000 sq ft) for wine and food storage.

3PLs continued to launch new logistics/warehouse premises in Q3 2025. For example, DSV launched its new Red Lion2 facility in July 2025, while SEKO Logistics announced the relocation of its warehouse to 50 Alps Avenue (8,000 sq ft).

Rents and capital values holding steady

The islandwide average logistics/warehouse rent held firm for the fifth consecutive quarter. This was underpinned by an increase in leasing enquiries and relatively limited stock of quality space for lease.

Logistics/warehouse assets continued to enjoy healthy investor demand, keeping capital values unchanged for the fifth successive quarter. Amid stable rents and capital values, yields continued to move sideways in Q3 2025.

Outlook: Global geoeconomic uncertainties remain a key market challenge

Supply pressure is expected to ease, with no new completions for lease envisaged in the coming 12 months. However, global uncertainties could weigh on demand prospects, thereby limiting rent growth, at least in the next six months.

Sustained investor interest in a lower interest rate environment is likely to keep yields steady in the next 12 months. However, capital value growth prospects are expected to be restrained by the muted rent-growth outlook.