http://www.businesstimes.com.sg/arch...units-20130628

Published June 28, 2013

Far East sells most of Tuas industrial units

63 out of 72 units at Westcom sold as industrial demand remains strong

By Mindy Tan


[SINGAPORE] Far East Organization's industrial development, The Westcom, saw 63 of its 72 units released snapped up.

Prices for the 42-year leasehold development starts from $1.148 million for a 3,068 sq ft warehouse unit, and $955,000 for a 3,079 sq ft factory unit.

The Westcom, a six-storey Business 2 ramp-up with 144 warehouse and factory units, is located along Tuas South Ave 3. Among the units taken up, 43 were factory units and 20 warehouse units.

"The Westcom is primed to benefit from the exciting transformation and revitalisation underway in Tuas, placing owners right at the epicentre of industrial growth. We believe that the upcoming mega port development and enhanced connectivity from the Tuas West Extension will usher in new opportunities," said Chia Boon Kuah, executive director and chief operating officer, property sales, at Far East Organization.

"The positive take-up and preview response to The Westcom thus far signals a healthy demand for space in this area, with about 60 per cent of our buyers purchasing the units for investment purposes." Ninety per cent of the buyers were Singaporeans, added Far East.

Demand for industrial space in Tuas has been strong, as seen by the sale status of Westlink One, Westlink Two, and Tradelink Place within the Tuas South industrial estate which were all sold out.

The Westcom is near the Tuas West Extension, the Ayer Rajah Expressway, Pan Island Expressway and a short drive into Malaysia via the Tuas Second Link.