GENERAL BUSINESS PARKS

Abstract

With the recent emphasis on high technology, the concept of business parks has been the focus of the real estate market lately. It stems from the idea of consolidating a11 businesses and manufacturing operations under one roof in a modern, well designed building set in a clean and attractive environment. Some of these parks are expected to have social and recreational facilities for employees set in a highly landscaped environment.

The concept of business parks for Singapore is the result of findings by a study mission group from EDB, JTC and URA to business parks in the United States, Japan, United Kingdom and France. The survey has shown a certain level of dissatisfaction with present industrial estates. The trends that has brought about business park developments are demands for better working condition and the need for flexible workplace.

In Singapore, business parks are not just an end user's requirement but also the government's overall economic policy to develop Singapore into a global business centre, and steer the country towards high technology and an information based society. Although the emphasis is on MNCs and high technology companies, other investors and local firms have also expressed interest in the development, in the survey.

Several sites have been earmarked for business parks development. Hence, Singapore will definitely see a series of such business parks development, once the guidelines for a business park zone is finalised. Its success will depend on many factors, two of which are the external economy and a strategic 'master plan' for the whole development.