IndustrialBUSINESS 2LeaseholdDistrict 19 · Hougang

Ipc Building

Reviewed by Nathan TangUpdated 8 November 2026Data through Nov 2009

Quick Summary

Ipc Building is a industrial building in District 19 · Hougang, on land zoned BUSINESS 2 under the URA Master Plan with a gross plot ratio of 2.5. It is leasehold. 2 transactions are on record since 1995, most recently in Nov 2009. 1 unit is currently listed for rent. ACRA records 26 live company registrations at this address.

The facts are here — now get the verdict on Ipc Building.

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What are the key facts about Ipc Building?

Key takeawayIpc Building is a industrial building in District 19 · Hougang, zoned BUSINESS 2, held leasehold.

Asset class: Industrial
Land-use zone: BUSINESS 2
Gross plot ratio: 2.5
Tenure: Leasehold
District / Area: District 19 · Hougang
Address: 23 Tai Seng Drive
Land area: 3,814 sqm
Completed: Not on record
Storeys: 6 (© OpenStreetMap contributors)
Owner: AIMS APAC REIT (SGX filings)
Estate (JTC): Tai Seng Industrial Estate
Listed as: Factory / Workshop (B2)
Transactions on record: 2 (records start 1995)
Live listings: 1
ACRA registrations: 26

Who owns Ipc Building, and what is it valued at?

Key takeawayIpc Building is owned by AIMS APAC REIT, a REIT listed on SGX. The figures below come from its own SGX filings, each with its date. A valuation is an independent valuer's opinion for the owner's accounts, not a sale price.

23 Tai Seng Drive

Valued at S$49 million as at 31 Mar 2026, by JLL.

per AIMS APAC REIT's SGX filing, 7 May 2026

Earlier: S$41.6 million (31 Mar 2025) · S$41.6 million (31 Mar 2024) · S$38.8 million (31 Mar 2023)

23 Tai Seng Drive: AIMS APAC REIT's annual report (2025)

Occupancy: 100% (as of 31 Mar 2026)
Land tenure: 60 years

per AIMS APAC REIT's annual report (SGX), 26 Jun 2026, page 169

Source: the owners' own filings on SGX — notices of valuation of real assets, acquisition and divestment announcements, and annual reports. Facts only, each with its date; a valuation is not a sale price, and occupancy and WALE are as of the date shown. Only REITs and SGX-listed companies file these: a building with a private owner shows no owner here.

What are the specs at Ipc Building?

Key takeawayThe building's specs as its sources state them — the listing agent or the management can confirm a unit's own.

Facilities: car park; Source: CommercialGuru

About Ipc Building

Ipc Building is an industrial building in Hougang (District 19). It is located along Tai Seng Drive, Singapore 535224.

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 leasehold, with about 0 years left to run. A tail that short materially narrows the pool of banks willing to finance a purchase. It sits on about 3,814 sqm of land with roughly 25,259 sqm of gross floor area.

2 transactions have been recorded here, at a median of S$296 psf. The most recent was in November 2009.

Across JTC's rental returns for Tai Seng Drive, the median rent for industrial space on this street works out to about S$1.50 psf per month over 38 observations. Observed medians on the street span S$0.46 to S$3.00 psf per month. These are street-level figures from undated JTC snapshots, not a rent quoted for this property.

The nearest port or airport land is about 7.9 km away. The closest business-park zone is about 587 m away. The nearest MRT is Tai Seng MRT, 582 m away (about a 9-minute walk). The closest bus stop (Opp Comfort Test Ctr) is 161 m away (about a 2-minute walk).

27 businesses are currently registered at this address with ACRA.

What is Ipc Building zoned as?

Key takeawayIpc Building 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 Ipc Building sold for?

Key takeaway2 transactions are on record since 1995, most recently in Nov 2009 — too few to support a median, so the deals themselves are listed instead.

Date	Use	Price	Area	PSF
Nov 2009	Single-user Factory	S$17.20M	41,050 sqft	$419
Jul 2006	Single-user Factory	S$7.10M	41,050 sqft	$173

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

Market context around Ipc Building

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 Ipc Building

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

Rent: 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 Ipc Building?

Key takeawayURA's planning decisions at Ipc Building since 2000 are below. 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.

6 Jan 2025Approved
Additions & alterations
Proposed underground diesel tank (20,000 liters) at the 1st storey of the existing 6-storey single user industrial building with basement
30 Dec 2024Approved
Additions & alterations
Proposed addition of new platform for genset to the existing 6-storey single user industrial building with basement
20 May 2022Approved
Additions & alterations
Proposed additions/alterations to the existing 6-storey single user factory involving addition of new electrical substation on lot 04430l mk23 at 23 tai seng drive, singapore (hougang planning area)
23 Oct 2020Approved
Additions & alterations
Proposed extension to the existing genset platform of the existing 6-storey single user industrial building with basement on lot 04430l mk 23 at 23 tai seng drive, singapore 535224 (hougangplanning area)
17 Aug 2010Approved
Additions & alterations
Proposed additions & alterations and change of use from existing production area to data storage area at 1st & 4th storey of the existing 6-storey single purpose light and clean industrial factory building with a basement
19 May 2009Approved
Additions & alterations
Proposed regularisation of gfa and amendment to approved proposed a/a to exstg 6-storey single purpose light & clean industrial factory wtih basement
27 Aug 2007Approved
Additions & alterations
Proposes additions & alterations to existing 6-storey single purpose light & clean industrial factory wtih basement

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).

What is available at Ipc Building right now?

Key takeaway1 unit is currently listed at Ipc Building. One row per unit; several agents often market the same unit.

For rent (1)

IPC BuildingS$3k/mo · 297 sqft

Browse every listing at this building →

What is near Ipc Building?

Key takeawayThe nearest MRT/LRT is Tai Seng MRT, about 582 m away.

Getting around

Tai Seng MRT582 m · ~9 min

Amenities nearby

Opp Comfort Test Ctr · 161 mThe Clinic @ Tai Seng · 499 mBusiness Park · 587 mTai Seng MRT Exit B · 622 mEducational Institution · 794 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Ipc Building

Key takeawayThe nearest station is Tai Seng (CC11), 575 m away — a busy station, with about 45,000 taps in and out on an average weekday. 8 public car parks are within 500 m.

Foot traffic: busier than 79% of industrial buildings

nearest MRT/LRT Tai Seng (CC11) 575 m, about 45,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 6, about 4,399 taps a weekday; Hougang: 43,772 resident workers (Census 2020, by workplace); about 23,000 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.

Stations within 1 km

Tai Seng (CC11)575 m · about 45,000 weekday taps
Ubi (DT27)988 m · about 22,000 weekday taps

Taps are fare-card taps in and out at the station's gates on an average weekday (Jul 2026 to Sep 2026) — people passing through, not visitors to Ipc Building. Transfers between lines don't tap, so interchanges read low.

Bus

6 bus stops within 400 m, with 4,399 boardings and alightings on an average weekday.

Public car parks within 500 m

Tai Seng Drive (URA)95 m
S$0.60 per half-hour at midday on a weekday · 8 car lots
Ubi Avenue 4 (JTC)346 m
Tai Seng Ave (URA)369 m
S$0.60 per half-hour at midday on a weekday · 47 car lots
Ubi Ave 4 (URA)373 m
S$0.60 per half-hour at midday on a weekday · 10 car lots
Tai Seng St (URA)427 m
S$0.60 per half-hour at midday on a weekday · 8 car lots

Nearest URA season parking: Kaki Bukit Rd 2, 571 m away, S$90/month.

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

Who's registered at Ipc Building?

Key takeaway26 live companies (and LLPs and branches; sole proprietors are not counted) list Ipc Building as their registered address. These are registered businesses, not who occupies the space.

Information and communications
11
Financial and insurance
9
Wholesale and retail trade
2
Professional, scientific and technical services
1
Administrative and support services
1
Construction
1
Real estate
1
Manufacturing
0
Health and social services
0
Transportation and storage
0

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$16.15 psm/month — an all-time median from 2000 onwards, not a current rent.

Street rent, median: S$16.15 psm/mo
Observed range: S$4.91 – S$32.25

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 Ipc Building

Where is Ipc Building?⌄

Ipc Building is at 23 Tai Seng Drive, Singapore 535224, in the Hougang planning area.

What is Ipc Building zoned as?⌄

Ipc Building 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 Ipc Building?⌄

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 Ipc Building?⌄

Ipc Building is leasehold. About 0 years remain on the lease. Financing gets harder below roughly 30 years, so factor that into any purchase.

What have units at Ipc Building sold for?⌄

Across 2 recorded transactions, the median is S$296 psf. The latest was in November 2009.

What does industrial space near Ipc Building rent for?⌄

JTC's rental returns for Tai Seng Drive put the median at about S$1.50 psf per month. That is a street-level figure from undated snapshots covering all industrial space on Tai Seng Drive, not a rent quoted for Ipc Building itself.

What is the nearest MRT station to Ipc Building?⌄

Tai Seng MRT is the closest, 582 m away (about a 9-minute walk).

How many businesses are registered at Ipc Building?⌄

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

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Read the figures right

Year of completion is not on record for this building. Building age cannot be stated.

Owner: the REIT or SGX-listed company whose latest valuation notice or annual report lists this building (a later divestment removes it). '(N% interest)' or '(part of the strata)' when it holds less than the whole. A building with no listed owner shows none — a private owner is never named.

Station taps: average weekday fare-card taps in and out at the nearest MRT/LRT station (LTA DataMall). People passing the station's gates, not people visiting this building.

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".

Storeys: from OpenStreetMap (© OpenStreetMap contributors), volunteer-mapped, not an official record. Shown only because no official or listed floor count is held for this building.

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 JTC estate boundaries, the owner's SGX filings, URA car park data (URA Data Service), LTA DataMall passenger volumes, PropKaki's foot-traffic model, CommercialGuru, OpenStreetMap (© OpenStreetMap contributors) — see our methodology. Last updated 8 November 2026. For general information, not financial advice.

Owners, valuations and deals: the owners' own filings on SGX (notices of valuation of real assets, acquisition and divestment announcements, annual reports), facts only, each with its date.

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.