“Industrial rents and prices rose at the close of 2009, reversing four quarters of decline"

• The Singapore economy contracted by 2.1 per cent for the whole of 2009, according to flash estimates by The Ministry of Trade and Industry.
• Vacancy rate of factory space remained unchanged at 8.1 per cent from last quarter while that of warehouse rose to 10.0 per cent from 8.2 per cent last quarter.
• Industrial rents and prices rose for the first time in five quarters by 1.8 per cent and 0.3 per cent quarter-on-quarter respectively.
• About 27.1 million sq ft of new industrial space will be added over the next 24 months.
• International Business Park welcomed two major developments completed in the reviewed quarter – Icon@ IBP and 1A International Business Park.