SINGAPORE: A specialised high-rise development for the furniture industry will be set up at Sungei Kadut to help Singapore firms operate more efficiently, Senior Minister of State for Trade and Industry Lee Yi Shyan said on Friday (Mar 13).
He said the JTC Furniture Hub @ Sungei Kadut will be the first specialised, high-rise and multi-tenanted development to bring furniture companies and related service providers together. Through clustering, companies can redesign their business processes to maximise operational efficiency.
The Singapore Furniture Industries Council (SFIC) will manage a training institute within the hub, along with a design lab and a showroom for both trade visitors and the general public, added Mr Lee, who is also Senior Minister of State for National Development.
JTC is developing a new generation of industrial space with shared facilities as a key feature to help various industries. For instance, companies located in JTC’s new Food Hub can make use of a shared integrated cold room warehouse.
Speaking at the opening of the International Furniture Fair Singapore 2015 (IFFS) and the 32nd ASEAN Furniture Show (AFS), Mr Lee said Singapore's furniture industry has maintained a healthy growth rate over the years due to constant upgrading efforts and focus on creating value in design and branding.
Last year, the industry's revenue rose by 2.8 per cent to reach an estimated S$6.3 billion.
- CNA/ek