Business parks are a type of industrial property. Spread out across different locations in in Singapore, they act as a vibrant hub for certain industry clusters.
Business, science or industrial parks usually contain office spaces, headquarter buildings and R&D facilities. Companies that are located in business parks usually engage in R&D, knowledge-intensive and high-value added activities. They tend to come from industries such as R&D, life sciences, healthcare, product design or telecoms.
Only businesses in light and clean activities can be conducted in business parks. Pollutive activities are not allowed. Units in business parks come in various sizes and configurations. Rental tends to be lower than Grade A commercial office spaces but higher than other industrial spaces such as flatted factories.
Here, we take a look at some of the main business or industrial parks in Singapore.
Seletar Aerospace Park
Seletar Aerospace Park is located near the Seletar Airport and caters primarily to businesses involved in the aerospace industry. The 320-hectare industrial zone contains purpose-built infrastructure for aerospace-related activities and operations such as the maintenance, repair and overhaul (MRO) of aircraft and components, manufacturing and assembly of aircraft engines and components, as well as training and R&D facilities for the aviation industry.
Located in the west of Singapore, one-north is a vibrant business park that is a hotbed for innovation and R&D. It houses established companies and institutions as well as start-ups from the life sciences, biomedical sciences, high-tech, infocomm, and media sectors. Built around state-of-the-art hubs such as Biopolis, Fusionopolis and Mediapolis, one-north promotes a collaborative environment for innovators, researchers, venture capitalists, incubators and accelerators.
International Business Park
The International Business Park – Singapore’s first business park – is an established hi-tech business and industrial park. One of its key advantages is its strategic location next to the upcoming Jurong Lake District (billed as Singapore’s second-largest business district after the CBD) and the Jurong Innovation District (which is earmarked as an advanced manufacturing hub). The International Business Park attracts conglomerates that want to establish regional headquarters, innovation centres or manufacturing facilities here.
CleanTech Park is Singapore’s first eco-business park which aims to promote the growth of the cleantech industry. It attracts R&D, engineering and headquarter activities and is designed to encourage collaboration across research institutes and the public and private sector. Companies situated in CleanTech Park are heavily involved in researching and finding green solutions and technology to tackle environmental challenges.
Singapore Science Park
The Singapore Science Park is located along what is known as Singapore’s Technology Corridor. It is also in close proximity to one-north. Singapore Science Park houses key research labs, MNCs and global technology companies from the biomedical, R&D and technology sectors. It is an important innovation and technology hub that supports the growth of the knowledge economy.
Changi Business Park
Changi Business Park is situated in the east near Changi Airport. It is home to businesses from the high-tech, R&D, data, software and financial sectors. Besides acting as a base for knowledge-intensive industries, Changi Business Park also houses extensive warehousing and storage facilities. This gives it a high cargo-handling capacity which is a key advantage given its close location to Changi Airport. Its easy accessibility to major expressways such as the ECP, PIE and TPE makes Changi Business Park an attractive location for transport and logistics companies as well.
Tuas Biomedical Park
Tuas Biomedical Park is a specialised industrial park housing major pharmaceutical, med tech and biotech companies such as Pfizer, GlaxoSmithKline and Roche. The park caters to the needs of these companies and is outfitted with world-class research labs, operational and manufacturing facilities.
Airport Logistics Park
The Airport Logistics Park is an industrial park with free trade zone status. It is located near Changi Airport and supports the trade and air cargo activities of the airport. The facilities are suited for transport, cargo and logistics companies.