IndustrialBUSINESS 2FreeholdDistrict 25 · Sungei Kadut

Innovation Place

Reviewed by Nathan TangUpdated 8 November 2026Data through Sept 2026

Quick Summary

Innovation Place is a industrial building in District 25 · Sungei Kadut, on land zoned BUSINESS 2 under the URA Master Plan with a gross plot ratio of 2.5. It is freehold. 123 transactions are on record since 1995, at a median S$370 psf, most recently in Sept 2026. 3 units are currently listed for sale or rent. ACRA records 102 live company registrations at this address.

The facts are here — now get the verdict on Innovation Place.

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What are the key facts about Innovation Place?

Key takeawayInnovation Place is a industrial building in District 25 · Sungei Kadut, zoned BUSINESS 2, held freehold.

Asset class: Industrial
Land-use zone: BUSINESS 2
Gross plot ratio: 2.5
Tenure: Freehold
District / Area: District 25 · Sungei Kadut
Address: 25 Mandai Estate
Land area: 22,623 sqm
Completed: 2009 (per EdgeProp)
Storeys: Not on record
Strata units (MCST): 166
Managing agent: PROACTIVE PROPERTY PARTNERS PTE LTD
Strata formed: 2002 (MCST 2678)
Units with a recorded sale: At least 73
Listed as: Factory / Workshop (B2), Light Industrial (B1)
Transactions on record: 123 (records start 1995)
Live listings: 3
ACRA registrations: 102

About Innovation Place

Innovation Place is an industrial building in Sungei Kadut (District 25). It is located along Mandai Estate, Singapore 729930.

Under the URA Master Plan the site is zoned Business 2 with a gross plot ratio of 2.5. Business 2 zoning covers general industry with a nuisance buffer of 100 m, including heavier trades.

The site is freehold. It sits on about 22,623 sqm of land with roughly 56,557 sqm of gross floor area.

121 transactions have been recorded here, at a median of S$370 psf. The most recent was in October 2025.

Across JTC's rental returns for Mandai Estate, the median rent for industrial space on this street works out to about S$1.36 psf per month over 102 observations. Observed medians on the street span S$0.59 to S$2.19 psf per month. These are street-level figures from undated JTC snapshots, not a rent quoted for this property.

1 industrial project is still uncompleted on this street, adding about 11,950 sqm of gross floor area, the earliest due around 2027.

The nearest port or airport land is about 7.3 km away. The closest business-park zone is about 1.2 km away. The closest bus stop (Aft Mandai Est) is 415 m away (about a 6-minute walk).

123 businesses are currently registered at this address with ACRA.

What is Innovation Place zoned as?

Key takeawayInnovation Place sits on land zoned BUSINESS 2 with a gross plot ratio of 2.5.

Land-use zone: BUSINESS 2
Gross plot ratio: 2.5

Run the full zoning report for this building →

What has Innovation Place sold for?

Key takeawayAcross 123 recorded transactions since 1995, the median price is about S$562k, most recently in Sept 2026.

Date	Use	Price	Area	PSF
Sept 2026	Multiple-user Factory	S$1.16M	1,615 sqft	$720
Sept 2026	Multiple-user Factory	S$1.00M	1,432 sqft	$699
Oct 2025	Multiple-user Factory	S$1.00M	1,335 sqft	$749
Jun 2025	Warehouse	S$1.70M	1,927 sqft	$882
Jun 2025	Multiple-user Factory	S$1.05M	1,615 sqft	$650
Nov 2023	Multiple-user Factory	S$868k	1,539 sqft	$564
Nov 2022	Multiple-user Factory	S$1.01M	1,615 sqft	$628
Sept 2022	Warehouse	S$1.50M	1,776 sqft	$845
Sept 2022	Multiple-user Factory	S$890k	1,432 sqft	$622
May 2021	Multiple-user Factory	S$630k	1,335 sqft	$472

URA/JTC records from 1995 — that is where the record starts, not when the building was built. Strata and land deals can mix in one building's history; compare like with like. sqm ↔ sq ft converter

What does space at Innovation Place rent for?

Key takeawayJTC publishes leases at Innovation Place itself: strata factory space leased at a median of $2.06 psf a month in 2026Q3, with the middle half of leases between $1.94 and $2.40. That is the building's figure across its leases, and never a quote for a particular unit.

Strata factory space in this building

This building · 2026Q3

25th pct

$1.94

$20.86 psm

Median

$2.06

$22.22 psm

75th pct

$2.40

$25.83 psm

S$ per sq ft per month · median +4.2% on a year earlier

2023Q4 · $19.02 psm2026Q3 · $22.22 psm median

JTC's percentiles of the gross rent declared to IRAS for strata factory units leased in THIS building in the stated quarter (J-SPACE). It is the building's figure across its leases, not any one unit's rent; a unit's floor, size and fit-out move it. '*' quarters (too few leases) are absent, not zero.

Source: JTC J-SPACE, rentals of strata-titled multiple-user factories.

Strata factory space on Mandai Estate

Street level · 2026Q3

25th pct

—

— psm

Median

$2.12

$22.86 psm

75th pct

—

— psm

S$ per sq ft per month (median only published) · median -2.9% on a year earlier

2023Q4 · $21.64 psm2026Q3 · $22.86 psm median

This is the MEDIAN of JTC-published rents across leases on this street in the stated quarter, not the asking or contracted rent of any particular unit. Streets with too few leases are suppressed by JTC and appear as no value -- suppressed is not zero.

Source: JTC J-SPACE, rental of industrial space by street.

Market context around Innovation Place

Key takeawayBrokers' industrial figures for Singapore as a whole — a broker's market figure, not this building's rent.

CBRE, 2Q 2026 (island-wide)

Factory (ground floor): Rent S$1.81 psf/mth
Factory (upper floor): Rent S$1.41 psf/mth
Prime logistics: Rent S$1.87 psf/mth · Capital value S$245 psf · Net yield 6.5%
Warehouse (ground floor): Rent S$1.91 psf/mth
Warehouse (upper floor): Rent S$1.39 psf/mth

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026 (island-wide)

Factory - Ground Floor: Rent S$1.79 psf/mth
Factory - Upper Floor: Rent S$1.57 psf/mth
High-Tech: Rent S$3.56 psf/mth
Prime Logistics - Ground Floor: Rent S$1.92 psf/mth
Prime Logistics - Upper Floor: Rent S$1.74 psf/mth
Warehouse - Ground Floor: Rent S$1.81 psf/mth
Warehouse - Upper Floor: Rent S$1.49 psf/mth

Singapore Industrial MarketBeat Q2 2026

Official series (JTC, 2026Q3): Multiple-User Factory occupancy (island-wide) 90.3% (-0.7 pp on the year) · Single-User Factory occupancy (island-wide) 89.1% (0 pp on the year) · Warehouse occupancy (island-wide) 89.7% (+0.1 pp on the year).

Brokers draw submarkets and grades differently; each figure is the broker's own, for its own area, cited to its report. Rents are per square foot per month.

How fast units move at Innovation Place

Key takeawayBased on listings we track, as of our last check on 28 Aug 2026: 2 units for rent; 1 unit for sale.

Rent: between 6 Aug 2026 and 28 Aug 2026, 1 new listing appeared and 0 came off (sold, let or withdrawn). Days on market: not enough history yet — we began tracking on 6 Aug 2026.

Sale: between 6 Aug 2026 and 28 Aug 2026, 0 new listings appeared and 0 came off (sold, let or withdrawn). Days on market: not enough history yet — we began tracking on 6 Aug 2026.

One count per unit, however many agents list it. Asking prices are not tracked over time, so price cuts are not shown.

What's been approved at Innovation Place?

Key takeawayURA has approved 1 change of use at Innovation Place since 2000, most recently in 2016, and refused 1. This is the building's planning history, not today's approved use of any unit: confirm a unit's approved use with URA before signing.

30 May 2019RefusedFloor 5
Change of use to pet boarding
Proposed change of use of factory unit #05-XX to pet boarding
29 Aug 2016ApprovedFloor 1
Change of use to industrial canteen
Change of use of part of unit #01-XX to industrial canteen of existing flatted factory

Source: URA planning decisions (URA Data Service), matched to this building by address or land lot. A past approval can lapse (a temporary permission) and belongs to the unit it names. The authoritative approved use of a unit comes from URA's Enquiry on Approved Use of Premises (S$54.50 per unit).

How does Mandai Estate price?

Key takeawayMandai Estate's current JTC street rent is S$22.86 psm/month (2026Q3), which against the street's strata sale median works out to an indicative gross yield of 3.2% (2.8% net of property tax).

Strata sales on the street (5y)

208

Street median PSF (strata)

$913

Indicative street yield

3.2% gross

2.8% net of property tax

An INDICATIVE street-level yield, not a yield for any particular unit: the current-quarter JTC street rent divided by the street's strata sale PSF median.

Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.

Street figures cover strata deals only — land and strata PSF are not comparable.

What is available at Innovation Place right now?

Key takeaway3 units are currently listed at Innovation Place — 1 for sale and 2 for rent. One row per unit; several agents often market the same unit.

For sale (1)

Innovation PlaceS$1.10M · 1,432 sqft

For rent (2)

Innovation PlaceS$4k/mo · 1,453 sqft
25 Mandai EstateS$3k/mo · 1,561 sqft

Browse every listing at this building →

What is near Innovation Place?

Amenities nearby

Healthserve (Mandai) Community Clinic · 181 mAft Mandai Est · 415 mBusiness Park · 1.2 kmEducational Institution · 1.3 km

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Innovation Place

Key takeawayThere is no MRT or LRT station within 1 km; the nearest is Yew Tee, 1.7 km away. One public car park is within 500 m.

Foot traffic: busier than 11% of industrial buildings

no MRT/LRT within 1 km (nearest Yew Tee, 1.7 km); no bus stop within 400 m; Sungei Kadut: 20,753 resident workers (Census 2020, by workplace); about 1,688 residents within 1 km (June 2026). Ranked against 8,225 industrial buildings by PropKaki's model: a relative score, not a footfall count.

A relative score from PropKaki's model (station and bus taps nearby, workers and residents around), not a count of people.

Bus

No bus stop within 400 m.

Public car parks within 500 m

Gali Batu Close Hvp (URA)236 m

Nearest URA season parking: Sungei Kadut Area, 1.4 km away, S$90/month.

Public car parks only, by straight-line distance, with the operator's published rates. Innovation Place's own car park, if it has one, and its charges are not in the open data.

Who's registered at Innovation Place?

Key takeaway102 live companies (and LLPs and branches; sole proprietors are not counted) list Innovation Place as their registered address. These are registered businesses, not who occupies the space.

Construction
31
Wholesale and retail trade
22
Professional, scientific and technical services
10
Manufacturing
10
Administrative and support services
9
Information and communications
7
Transportation and storage
6
Financial and insurance
4
Real estate
2
Other services
1

Registered businesses, not who occupies the space: companies, LLPs and branches whose REGISTERED address is this building (ACRA), by industry. Sole proprietors are not counted; no business is named. ACRA, as of 2026-09-16.

What does industrial space rent for on this street?

Key takeawayJTC's street-level record shows a median of S$14.61 psm/month — an all-time median from 2000 onwards, not a current rent.

Street rent, median: S$14.61 psm/mo
Observed range: S$6.38 – S$23.54
Pipeline on this street: 1 project · earliest TOP 2027

JTC street medians span 2000 to today and are an all-time level, not today's asking rent; the forward pipeline is a forecast, not committed completions.

Frequently asked questions about Innovation Place

Where is Innovation Place?⌄

Innovation Place is at 25 Mandai Estate, Singapore 729930, in the Sungei Kadut planning area.

What is Innovation Place zoned as?⌄

Innovation Place is zoned Business 2 under the URA Master Plan, with a gross plot ratio of 2.5. Business 2 zoning covers general industry with a nuisance buffer of 100 m, including heavier trades.

What kind of business can operate at Innovation Place?⌄

Business 2 zoning covers general industry with a nuisance buffer of 100 m, including heavier trades. The specific trade still has to be approved, so check the permissible-use list for your activity.

What is the tenure of Innovation Place?⌄

Innovation Place is freehold.

What have units at Innovation Place sold for?⌄

Across 121 recorded transactions, the median is S$370 psf. The latest was in October 2025.

What does industrial space near Innovation Place rent for?⌄

JTC's rental returns for Mandai Estate put the median at about S$1.36 psf per month. That is a street-level figure from undated snapshots covering all industrial space on Mandai Estate, not a rent quoted for Innovation Place itself.

How many businesses are registered at Innovation Place?⌄

123 businesses are currently registered at this address with ACRA. That counts registered addresses, not physical occupiers.

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Read the figures right

Completion year: as EdgeProp states it, not checked against an official record. Sales records start in 1995, which says nothing about when a building was built.

Total units: the strata units in the building's MCST (BCA's register) — strata lots, not tenancies; a single-owner building can be one lot. Units with a recorded sale (URA caveats) are a separate figure.

Strata lots: the lot count in the development's MCST (BCA's register) — the whole development, homes included where it is mixed; a single-owner mall or tower can be one lot.

Strata formed: the year the MCST was set up (BCA's register). NOT the year the building was completed — an MCST forms after TOP, sometimes years later. Never state it as the building's age.

Managing agent: as BCA's MCST register names it; it can change between register updates.

Changes of use: URA planning approvals recorded at this building since 2000 (any unit; renewals of a temporary permission not counted). History only — Past approvals are not today's approved use; check with URA's approved-use enquiry before signing. Never say a use is allowed, permitted or approved for a unit, and never say a use would be approved.

Foot-traffic score: PropKaki's relative score from nearby MRT and bus taps, workers and residents around (and, for retail, competing malls), ranked against buildings of the same kind. A percentile, not a count of people.

Company REGISTRATIONS at this address (ACRA), not a tenancy schedule. Registration does not mean the company physically occupies space here, and a low count does not mean the building is empty. Do not describe this as occupancy or vacancy.

Unbuilt GFA cannot be computed here — it needs BCA built-GFA, which covers about 5% of commercial buildings and no industrial ones. Zoning and plot ratio are on record; headroom is not.

Median across 2000Q1-2026Q2 — an all-time level, NOT a current rent. Quote the latest quarter for "what does it rent for now".

Reviewed by Nathan Tang

Nathan Tang has over 10 years of property experience across condominiums, HDB flats and commercial property, specialising in property research and finance.

Figures draw on URA and JTC records, URA Master Plan zoning, ACRA registrations and live commercial-portal listings; building facts from EdgeProp, BCA's MCST register, URA planning decisions, URA car park data (URA Data Service), PropKaki's foot-traffic model — see our methodology. Last updated 8 November 2026. For general information, not financial advice.

Getting there and parking: LTA DataMall passenger volumes and car parks, URA Data Service car park rates, HDB and JTC car park information (data.gov.sg) and HDB's published parking charges, Census of Population 2020 and the Singapore Department of Statistics' June 2026 resident population (Singapore Open Data Licence). The foot-traffic score is PropKaki's own relative model, not a count.

Market context: figures cited from CBRE Research (Singapore Figures) and Cushman & Wakefield (Singapore MarketBeat), each with its quarter and report; flexible-workspace centres from the operators' public location lists; collective sales from marketing agents' announcements and news reports, each linked.

Rents: URA rental statistics for office and retail space by street (IRAS-stamped contracts), JTC J-SPACE rentals by building and by street, JTC price tenders, and URA REALIS rental grids. SLA tender results and JTC posted land rents are held for state and JTC land.