IndustrialBUSINESS 1LeaseholdDistrict 19 · Hougang

Victory Building

Reviewed by Nathan TangUpdated 8 November 2026Data through Jul 2007

Quick Summary

Victory Building is a industrial building in District 19 · Hougang, on land zoned BUSINESS 1 under the URA Master Plan with a gross plot ratio of 2.5. It is leasehold with roughly 63 years remaining. 2 transactions are on record since 1995, most recently in Jul 2007. ACRA records 0 live company registrations at this address.

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

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What are the key facts about Victory Building?

Key takeawayVictory Building is a industrial building in District 19 · Hougang, zoned BUSINESS 1, held leasehold.

Asset class: Industrial
Land-use zone: BUSINESS 1
Gross plot ratio: 2.5
Tenure: Leasehold
District / Area: District 19 · Hougang
Address: 111 Defu Lane 10
Land area: 3,882 sqm
Completed: Not on record
Storeys: 4 (© OpenStreetMap contributors)
Estate (JTC): Defu Industrial Estate
Transactions on record: 2 (records start 1995)
Live listings: None
ACRA registrations: 0

About Victory Building

Victory Building is an industrial building in Hougang (District 19). It is located along Defu Lane 10, Singapore 539226.

Under the URA Master Plan the site is zoned Business 1 with a gross plot ratio of 2.5. Business 1 zoning covers clean and light industry with a nuisance buffer of 50 m.

The site is leasehold, with about 63 years left to run. It sits on about 3,882 sqm of land with roughly 9,705 sqm of gross floor area.

2 transactions have been recorded here, at a median of S$147 psf. The most recent was in July 2007.

Across JTC's rental returns for Defu Lane 10, the median rent for industrial space on this street works out to about S$1.50 psf per month over 26 observations. Observed medians on the street span S$0.14 to S$2.27 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 6.4 km away. The closest business-park zone is about 1.4 km away. The nearest MRT is Kovan MRT Exit C, 960 m away (about a 15-minute walk). The closest bus stop (Opp Blk 106) is 158 m away (about a 2-minute walk).

1 business is currently registered at this address with ACRA.

What is Victory Building zoned as?

Key takeawayVictory Building sits on land zoned BUSINESS 1 with a gross plot ratio of 2.5.

Land-use zone: BUSINESS 1
Gross plot ratio: 2.5

Run the full zoning report for this building →

What has Victory Building sold for?

Key takeaway2 transactions are on record since 1995, most recently in Jul 2007 — too few to support a median, so the deals themselves are listed instead.

Date	Use	Price	Area	PSF
Jul 2007	Single-user Factory	S$6.13M	41,785 sqft	$147
Jun 2007	Single-user Factory	S$6.13M	41,785 sqft	$147

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 Victory Building rent for?

Key takeawayNo rent is published for Victory Building itself. On its street, Defu Lane 10, strata factory space rented at a median of $2.25 psf a month in 2026Q3. That is not this building's own rent, and never a quote for a particular unit.

Strata factory space on Defu Lane 10

Street level · 2026Q3

25th pct

—

— psm

Median

$2.25

$24.22 psm

75th pct

—

— psm

S$ per sq ft per month (median only published)

2022Q3 · $18.03 psm2026Q3 · $24.22 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 Victory 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.

What's been approved at Victory Building?

Key takeawayURA's planning decisions at Victory 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.

22 Jan 2010Approved
Additions & alterations
Proposed additions & alterations and change of use to the existing 4-storey factory to warehouse and addition of 5th storey warehouse
14 Mar 2008Approved
Additions & alterations
Proposed addition/alteration works to the existing 4-storey single user 4-storey industrial factory building & change of use to warehouse use at 1st & 2nd storey

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 near Victory Building?

Amenities nearby

Opp Blk 106 · 158 mPK Ang Family Clinic & Surgery · 200 mEducational Institution · 207 mBlk 105 Hougang Ave 1 · 270 mKovan MRT Exit C · 960 mBusiness Park · 1.4 km

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Victory Building

Key takeawayThe nearest station is Kovan (NE13), 960 m away — a busy station, with about 48,000 taps in and out on an average weekday. 6 public car parks are within 500 m.

Foot traffic: busier than 79% of industrial buildings

nearest MRT/LRT Kovan (NE13) 960 m, about 48,000 taps a weekday; bus stops within 400 m: 8, about 16,000 taps a weekday; Hougang: 43,772 resident workers (Census 2020, by workplace); about 27,000 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

Kovan (NE13)960 m · about 48,000 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 Victory Building. Transfers between lines don't tap, so interchanges read low.

Bus

8 bus stops within 400 m, with about 16,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Blk 101-108 Hougang Avenue 1 (HDB)218 m
S$0.60 per half-hour at midday on a weekday · gantry 4.5 m · 248 car lots
Blk 105 Hougang Avenue 1 (HDB)277 m
S$0.60 per half-hour at midday on a weekday · gantry 2.15 m · 168 car lots
Blk 239-246 Hougang Street 22 (HDB)303 m
S$0.60 per half-hour at midday on a weekday · gantry 4.5 m · 333 car lots
Blk 1 To 32, 37 To 38 Defu Lane 10 (JTC)314 m
Blk 108 Hougang Avenue 1 (HDB)385 m
S$0.60 per half-hour at midday on a weekday · 39 car lots

HDB season (car): Tier 1 $80/month (a resident's or registered HDB shop/industrial tenant's first car); Tier 2 (other cars, non-residents) $90 Rest of Island, $150 Designated Area, $165 Restricted Zone (surface). Which zone this car park is in is not published as data.

Nearest URA season parking: Simon Road-Kovan Road Area, 1.6 km away, S$90/month.

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

Who's registered at Victory Building?

Key takeaway0 live companies (and LLPs and branches; sole proprietors are not counted) list Victory Building as their registered address. These are registered businesses, not who occupies the space.

Financial and insurance
0
Administrative and support services
0
Manufacturing
0
Construction
0
Wholesale and retail trade
0
Information and communications
0
Professional, scientific and technical services
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$1.49 – S$24.47

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 Victory Building

Where is Victory Building?⌄

Victory Building is at 111 Defu Lane 10, Singapore 539226, in the Hougang planning area.

What is Victory Building zoned as?⌄

Victory Building is zoned Business 1 under the URA Master Plan, with a gross plot ratio of 2.5. Business 1 zoning covers clean and light industry with a nuisance buffer of 50 m.

What kind of business can operate at Victory Building?⌄

Business 1 zoning covers clean and light industry with a nuisance buffer of 50 m. The specific trade still has to be approved, so check the permissible-use list for your activity.

What is the tenure of Victory Building?⌄

Victory Building is leasehold. About 63 years remain on the lease.

What have units at Victory Building sold for?⌄

Across 2 recorded transactions, the median is S$147 psf. The latest was in July 2007.

What does industrial space near Victory Building rent for?⌄

JTC's rental returns for Defu Lane 10 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 Defu Lane 10, not a rent quoted for Victory Building itself.

What is the nearest MRT station to Victory Building?⌄

Kovan MRT Exit C is the closest, 960 m away (about a 15-minute walk).

How many businesses are registered at Victory Building?⌄

1 business is 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.

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, HDB car park information (data.gov.sg), LTA DataMall passenger volumes, PropKaki's foot-traffic model, OpenStreetMap (© OpenStreetMap contributors) — 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.