[CRS-260141] An Appreciation and Awareness of Singapore's Industrial Sectors and Industrial Property Market (SIPM)

CPD Category: Professional Competencies under Structured Learning (4 training hours awarded)

Course Duration: 4.0 hours

Funding: Not Eligible for UTAP funding

Course Synopsis:

The module begins with the creation of Jurong Industrial Estate by the late Dr Goh Keng Swee to attract foreign companies and create jobs for Singaporeans after Independence. It then traces the development of Singapore’s industrial land from the 1960s to the 2020s through URA’s Master Plans, highlighting MTI’s role in driving industrial policy and strategy via ITMs, Industrial Sectors, and the 5 ESR Committees.

JTC’s role as MTI’s statutory board in providing industrial infrastructure is explained, followed by a tour of 12 key industrial estates, including Bulim, Sungei Kadut, and Defu, which are being transformed for Industry 5.0. The module also introduces the five Industrial Revolutions and showcases local adoption of Industry 5.0 technologies.

Industrial property types, ownership, and leases are discussed, supported by six case studies illustrating historical and current policies. The module concludes with an overview of industrial land allocation, key market players, economic considerations, and the transfer/resale process of JTC leases.

Course Objective(s):

This course is essential for real estate agents who want to stay ahead of the curve in the industrial property market. The course will cover the following topics: -

• The growth of the industrial sectors in Singapore
• How Singapore caters to new industries
• How industrial land is recycled back into the market
• The secondary industrial property market

Expected Learning Outcome(s):

At the end of the session, the learners be able to: -

• Appreciate and extract information details from the INLIS product report called the POI (Property Ownership Information)
• Procure facts accurately about the industrial property that they intend to market for sale from an authoritative source, ie. the SLA (Singapore Land Authority).
• Better understand where they may procure more in-depth information from SLA online conveniently through the INLIS from the comfort of their homes.

Course Details

1. The main objectives of this module is to inform CEA salespersons that the Singapore Industrial Property Market is made up of many different and varied industrial property sectors and it is all these industrial sectors together that makes up the Singapore Industrial Property Market.

2. To understand how Singapore’s industrial property market developed and grew starting from Jurong Industrial Estate

3. To inform course participants that the Ministry of Trade and Industry (MTI) is the underlying driving force guiding and directing the overall development, growth and retirement of various industrial sectors in Singapore.

4. To understand and gain awareness that ITMs (Industry Transformation Maps) are the instrumental mechanisms used by MTI to guide the development, growth and the retirement of the industrial sectors in Singapore.

5. To understand how MTI, through it’s policies implemented by JTC Corporation, continues to guide the development and redevelopment of industrial sectors/clusters in Singapore in collaboration with URA’s Master Plan zoning guidelines, based on compatibility and complimentary land uses.

6. The various Industrial Building Types found in the industrial property market and the legacy of legal Ownerships Titles and Leases we have inherited, are highlighted.

7. Through 6 cases studies, the module then seeks to highlight to the CEA salespersons the:-
   • different types of legal ownership structures of different industrial properties in Singapore,
   • to understand the main differences between JTC and non-JTC factories in Singapore,
   • that NEA’s approval for industrial trade uses is needed afresh prior to completing industrial property deals;
   • the different “Players” in the market place, and
   • that JTC industrial property transactions need to go through a process of assessing the industrial business trades and to obtain clearances & approvals for new/replacement Industrial Business Trade Uses intended for operations at the factories for sale (or for lease), from various relevant authorities before a transfer of ownership can take place. (This is totally unlike Residential property transactions.

Learning Outcomes

1. To understand that the Singapore Industrial Property Market is actually a segmented market comprised of many different and varied industrial property sectors. It is not a real estate market with a single homogenous use as the Residential Property Market is defined to be.
2. To understand how the Singapore industrial market started.
3. To understand MTI’s role in Singapore’s industrial development and JTC’s role in building up the infrastructure for Singapore’s industrial estates, parks and property sector.
4. How ITMs can be used to qualify prospective buyers of JTC industrial properties.
5. To appreciate JTC’s role in building up the infrastructure for industrial estates all over Singapore.
6. To show how MTI’s policy of guided and planned industrial diversification with JTC has resulted in valued added specialised industrial sectors becoming established in Singapore. This highlights Singapore’s strategy to remain buoyant and resilient through global economic changes and business financial shocks.
7. To show how Bulim, Sungei Kadut and Defu industrial estates undergo planned structural changes to cater for the new industries of the 5^th Industrial Revolution.
8. To help Agents & course attendees understand how each Industrial Revolution came about and what permanent changes they made in the lives, jobs and livelihoods of people all over the world.
9. Different types of Industrial Factories & Properties in terms of building types in the Private Sector and in JTC, are discussed with actual examples.
10. To highlight the legacy of different modes of legal ownerships and leases that we have inherited in our industrial property market. Six(6) case studies are provided to showcase their differences as well as the major terms and conditions to be met for a Transfer/Resale/Assignment of Lease to get completed.
11. How is industrial land allocated in Singapore?
12. The “two envelop system” used in the Tendering for land sold on IGLS (Industrial Government Land Sales) is explained and how this principle is some how integrated in assessing the quality of a prospective Buyer of a resale JTC factory through the submission of the prospective Buyer’s Business Plan.
13. To have an overview of the various different “Players” who are the buyers and sellers, owners, tenants and investors, in the Singapore Industrial Property Market.
14. Briefly discuss the industrial property market in terms of economic trends and the PMI (Purchasing Managers’ Index)
15. To show that the resale of a JTC factory involves a multi-stage process which is subject to clearances from various Statutory Boards, a Business Plan, the Environmental Baseline Study and finally the approval of JTC.

About the Trainer

Arthur Lee Beng San, Industrial Realtor & CPD Trainer

Arthur is a qualified and experienced industrial realtor with over 19 years of experience. He has a B.Sc. (Estate Management) and M.Sc. (Real Estate) from NUS, and is professionally recognized by SISV as MSISV (Agency & Marketing). He has closed a wide range of landed industrial property deals with corporate entities such as AMD (Singapore) Pte Ltd, Mapletree REIT, and many others.

Arthur has lectured at the Singapore Polytechnic, IBMEC College, and ASREA. He is able to provide proper guidance and teach CEA registered Agents how to navigate through SLA's INLIS, URA's websites and the various Industrial Property markets so as to close landed industrial property deals professionally.

Here are some of the key points of his profile: -

• Academically qualified with both a B.Sc. (Estate Management) and M.Sc. (Real Estate) from NUS.
• Professionally recognized and designated by SISV as MSISV (Agency & Marketing).
• Extensively experienced as a practicing Industrial Realtor of 19 years.
• Closed a wide range of landed industrial property deals with corporate entities such as AMD (Singapore) Pte Ltd, Mapletree REIT, and many others.
• Able to provide proper guidance and teach CEA registered Agents how to navigate through SLA's INLIS, URA's websites and the various Industrial Property markets so as to close landed industrial property deals professionally.