Good news for SMEs: Rents likely to drop
More factory and shop space available in next few years
Published on Apr 15, 2014 8:38 AM
Retailers and industrialists can expect rents to decline in the coming years, said Minister of State for Trade and Industry Teo Ser Luck yesterday.
In the next three years, about 500,000 sq m of multiple- user factory space will become available each year.
In the same period, 145,000 sq m of new shop space will be completed yearly as well. This is double the average annual demand for such spaces in the last three years, he said.
Mr Teo was replying to Ms Lee Bee Wah (Nee Soon GRC) who had asked if the Government was taking steps to help small and medium-sized enterprises (SMEs) cope with rising costs, especially rents.
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