It is the first negative figure registered since 2004 and significantly weaker than the 70,800 sq m take-up level in the second quarter of this year.

Termination of ready-built facilities in the third quarter rose by 26 per cent, as companies ended their lease to consolidate their operations. JTC completed the divestment of a portfolio of ready-built facilites to Mapletree on July 1.

JTC also said that the net take-up of its prepared industrial land stood at 34.5 ha in the third quarter, down 38.5 per cent from a year ago.