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A rise in e-commerce sales contributed to the segment’s growth.
This chart from EDMUND TIE revealed that the occupancy rate for warehouse space grew 0.8ppt QoQ to 88.3% in Q2. Occupancies of single-user factory spaces climbed, whilst it declined for business parks. The figures for multiple-user factories held relatively steady.
The growth in the warehouse space was largely attributed to a rise in e-commerce sales and a trend of stockpiling by supermarkets. According to data from the Department of Statistics, online retail sales accounted for 18.1% of the total retail sales value.
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