ANALYSIS OF R & D SPACE IN SINGAPORE SCIENCE PARK

Abstract

Research and Development (R&D) embraces element of originality, innovative content and commercialisation prospects. With R&D spearheading growth of new industries, there have been substantial increase in R & D expenditure and manpower in Singapore over the years. The Science Park being promoted as the centre of industrial research, witnesses the entrance of many R&D firms. A quantitative study on demand and supply of R & D space in Science Park, is thus carried out to determine whether there will be adequate space to accomodate these firms. It is found that firms' decisions to take up space is functionally related to R & D expenditure and market and sale values of R & D products. The study also shows that in the short run, demand will be gradual and there will be space available to sustain demand. A qualitative study is also carried out to understand property requirements of R & D firms. It is observed that these firms look for general amenities and do not require high tech facilties within premises. They prefer common fittings like central air-conditioning, alarm system and light fixtures. It is crucial to identify and ensure the right kind of space available in order to keep existing firms and attract new firms into Science Park.