Industrial globalisation and its impact on Singaporeʹs industrial landscape

Globalisation has been changing the world to a significant extent. Having been the recipients of foreign direct investment, Asian NIEs have acted as exporters of capital to other Asian emerging economies since the 1980s. A new form of international division of labour affects both recipient and investor cities. Industrial change and restructuring have cast a profound impact on Singaporeʹs economy as well as its industrial built form, in the context of land scarcity and relative high density. While new generations of industrial estates are replacing the old ones, and restructuring of industrial space use may be caused by industrial change, cost of industrial space and thus demand–supply equilibriums in the industrial property market are also responsible for the industrial restructuring. The option of industrial space as investment is obtaining its popularity over the notion of industrial space used mainly for its utility. Therefore, the formulation of new industrial landscape in Singapore is the result of interactions between the industrial property market and the industrial restructuring.