Introduction
Pasir Ris Coast Industrial Park 3 (PRCIP3) is a massive, state-of-the-art industrial park located in the eastern region of Singapore. Spanning over 200 hectares, PRCIP3 is designed to cater to the growing demand for industrial space in the city-state and support the transformation of Singapore’s economy towards high-value manufacturing and innovation.
Key Features
PRCIP3 boasts several key features that make it an attractive destination for businesses seeking to establish or expand their operations in Singapore:
- Strategic Location: PRCIP3 is conveniently located near major transportation hubs, including the Changi Airport and Pasir Ris MRT station, providing seamless connectivity to the rest of Singapore and beyond.
- Ample Space: With over 2 million square meters of gross floor area, PRCIP3 offers ample space to accommodate a wide range of industrial activities.
- Infrastructure: PRCIP3 is equipped with modern infrastructure, including high-speed fiber optic connectivity, reliable electricity supply, and dedicated logistics facilities.
- Sustainability: PRCIP3 is designed with sustainability in mind, featuring green buildings, solar energy systems, and rainwater harvesting facilities.
Anchor Tenants
PRCIP3 has attracted several anchor tenants, including:
- Siemens: A global leader in electrical engineering and automation.
- Panasonic: A multinational electronics and home appliance manufacturer.
- Keppel Offshore & Marine: A leading provider of offshore oil and gas solutions.
- ST Engineering: A Singapore-based technology and engineering conglomerate.
Industrial Clusters
PRCIP3 is envisioned as a hub for high-tech manufacturing and innovation. It is home to several industrial clusters, including:
- Aerospace: PRCIP3 is home to key players in the aerospace industry, including Rolls-Royce and Safran.
- Biomedical Sciences: The park houses companies involved in biotechnology, medical devices, and pharmaceutical production.
- Electronics: PRCIP3 is a hub for the electronics industry, with companies such as STMicroelectronics and Infineon present.
- Precision Engineering: The park supports companies specializing in precision engineering, such as toolmaking and robotics.
Investment Opportunities
PRCIP3 presents numerous investment opportunities for businesses looking to capitalize on Singapore’s thriving industrial landscape:
- Land Acquisition: Companies can purchase land parcels within PRCIP3 to build their own customized facilities.
- Built-to-Suit Facilities: Investors can have facilities tailor-made to their specific requirements and specifications.
- Joint Ventures: PRCIP3 encourages collaboration and partnerships, providing opportunities for joint ventures between local and international companies.
Table 1: Economic Impact of PRCIP3
| Metric | Value | Source |
|---|---|---|
| Gross Domestic Product (GDP) Contribution | $5 billion | Singapore Economic Development Board (EDB) |
| Jobs Created | 10,000 | EDB |
| Foreign Direct Investment (FDI) Attracted | $1 billion | EDB |
Table 2: Infrastructure Features of PRCIP3
| Feature | Details |
|---|---|
| High-Speed Fiber Optic Connectivity | 10 Gigabit per second capacity |
| Electricity Supply | 24/7 reliable power supply |
| Logistics Facilities | Dedicated warehouses, distribution centers, and transportation links |
| Solar Energy Systems | Rooftop and ground-mounted solar panels |
| Rainwater Harvesting Facilities | Collection and storage of rainwater for non-potable purposes |
Table 3: Industrial Clusters in PRCIP3
| Cluster | Key Companies |
|---|---|
| Aerospace | Rolls-Royce, Safran |
| Biomedical Sciences | Genentech, GSK |
| Electronics | STMicroelectronics, Infineon |
| Precision Engineering | Sodick, Mikron |
Table 4: Investment Opportunities in PRCIP3
| Opportunity | Benefits |
|---|---|
| Land Acquisition | Ownership and control of land parcels |
| Built-to-Suit Facilities | Facilities customized to specific needs |
| Joint Ventures | Collaboration and partnership opportunities |
Pain Points and Motivations
Businesses seeking to establish or expand their operations in PRCIP3 may encounter pain points such as:
- Competition for Land: With limited land available, competition for land parcels can be intense, especially for large-scale projects.
- High Costs: Land acquisition and construction costs can be substantial, particularly for facilities with specialized requirements.
- Labor Shortages: Attracting and retaining skilled workers in a competitive labor market can be challenging.
Motivations for investing in PRCIP3 include:
- Access to Singapore’s Market: Singapore is a growing economic hub with a strong domestic market and access to regional markets.
- Supportive Government Policies: The Singapore government provides incentives and support to businesses investing in PRCIP3.
- World-Class Infrastructure: PRCIP3 offers state-of-the-art infrastructure and amenities essential for efficient operations.
Step-by-Step Approach to Investing in PRCIP3
To invest in PRCIP3, businesses can follow a step-by-step approach:
- Conduct Feasibility Study: Assess market demand, competition, and potential returns on investment.
- Identify Land or Facility: Explore land acquisition options or identify built-to-suit facilities that meet specific needs.
- Negotiate Terms: Negotiate land purchase agreements or construction contracts with the relevant parties.
- Secure Financing: Obtain financing from banks or other financial institutions to fund the project.
- Obtain Approvals: Secure necessary permits and approvals from the government and relevant authorities.
- Construct or Renovate Facility: Build or改造facilities according to specifications and industry standards.
- Start Operations: Commence operations and enjoy the benefits of investing in PRCIP3.
FAQs
1. What is the target completion date for PRCIP3?
PRCIP3 is expected to be fully completed by 2025.
2. What incentives are available for businesses investing in PRCIP3?
The Singapore government offers various incentives, including tax breaks, grants, and support programs, for businesses investing in PRCIP3.
3. How can I find more information about PRCIP3?
You can visit the official website of JTC Corporation, the government agency responsible for PRCIP3’s development, for more information and updates.
4. What is the “innovat-hive” concept featured in PRCIP3?
The “innovat-hive” concept in PRCIP3 refers to a shared space where businesses can collaborate, innovate, and accelerate their growth.
5. What is the significance of PRCIP3’s proximity to Changi Airport?
Changi Airport’s proximity to PRCIP3 facilitates the seamless import and export of goods, reducing logistics costs and expediting supply chain operations.
6. What sustainability initiatives are implemented in PRCIP3?
PRCIP3 incorporates green buildings, solar energy systems, and rainwater harvesting facilities to minimize environmental impact and promote sustainable practices.
7. What are the potential growth areas within PRCIP3’s industrial clusters?
Emerging areas of growth within PRCIP3’s industrial clusters include advanced manufacturing, biopharmaceuticals, and robotics.
8. How does PRCIP3 support the development of Singapore’s knowledge-based economy?
PRCIP3 provides a platform for businesses to engage in research and development, innovation, and partnerships, fostering a knowledge-based ecosystem within Singapore’s economy.
