Introduction: Why Business Parks Matter for Corporate Users 

Introduction: Why Business Parks Matter for Corporate Users

Corporate occupiers and professional service firms in Singapore are increasingly turning to business parks, and for good reason. These spaces offer far more than just cost savings; they are curated ecosystems designed for growth, flexibility, and a strong corporate identity. Unlike traditional office towers or industrial estates, business parks provide a strategic blend of high-specification infrastructure, professional amenities, and collaborative environments.

Purpose-built for knowledge-based industries under Business Park zoning, these developments are tailored for firms in R&D, technology, finance, fintech, or as regional headquarters. They provide the polished, client-friendly presence of a corporate office with the scalability and functionality required for modern operations. For any business focused on operational agility, talent attraction, and brand positioning, a business park lease is a compelling strategic move. 

Key Zones in Singapore:

• One-North – a 200-hectare business park and research hub that serves as a centre for knowledge-based industries such as biomedical sciences, info-communications technology, and media.
• Changi Business Park – an integrated business hub housing a mix of technology, research and development (R&D), financial services, and logistics companies. 
• International Business Park (IBP) – a high-tech business park located next to the Jurong Lake District, serving as a hub for knowledge-based and high-tech companies. It offers a vibrant ecosystem for regional headquarters, innovation centres, and R&D.
• Punggol Digital District – a 50-hectare smart and sustainable business park, integrating the Singapore Institute of Technology (SIT) campus with business park developments by JTC Corporation. It aims to foster a collaborative ecosystem for digital growth industries like cybersecurity, AI, and robotics, as well as provide a live, learn, work, and play environment for the community. 

Key Advantages of Business Parks for Corporate Occupiers      

Image & Professionalism

A polished, modern business environment sends the right signal to clients and stakeholders. Many parks feature grand lobbies, concierge desks, and well-maintained common areas that reinforce a credible and professional corporate image.      

Accessibility & Amenities

Business parks are typically located near MRT stations and major expressways, ensuring excellent connectivity. The surrounding ecosystem, which often includes cafes, gyms, childcare services, hotels and serviced apartments makes them highly attractive for talent attraction and retention, as well as for hosting visitors.      

Lease Flexibility & Cost-Effectiveness

Compared to Grade A CBD office towers, business parks often offer more flexible leasing terms, a wider range of scalable unit sizes, and more cost-effective rent structures. This makes them ideal for companies looking to grow without being constrained by rigid and expensive lease commitments.       

How Business Parks Compare to Traditional Industrial Spaces

While industrial units prioritise functionality for machinery and logistics, business parks cater to people’s needs. Features like natural lighting, clean finishes, and breakout areas matter when you’re hosting client meetings, onboarding new hires, or managing cross-border operations.

What to Look for When Leasing a Business Park Unit 

When selecting a space, focus first on its physical suitability. Assess whether the unit size and layout can comfortably accommodate your current team while offering room for future expansion. Key infrastructure elements like raised flooring for easy cabling, high ceilings, efficient air-conditioning, and robust fibre broadband are crucial for creating a future-proof environment for any tech-enabled business.

Beyond the unit itself, consider the building's overall image and management. The external façade, lobby presentation, and common areas significantly impact how your firm is perceived by clients and partners. Partnering with an established landlord with a strong reputation ensures responsive facilities management and reliable long-term operational support, making them a valuable partner in your growth journey.

Finally, be mindful of zoning regulations. Under URA’s Business Park rules, primary business functions must constitute at least 60% of the space usage, with office use remaining ancillary. Confirming compliance is essential to avoid any potential tenancy issues and ensure the space aligns with your operational model.

Emerging Trends in Business Park Leasing

The business park landscape is evolving to meet the demands of the modern workforce and corporate responsibility mandates.

Hybrid Work Enablement

Recognising the shift in work patterns, leading business parks now integrate flexible solutions like modular spaces and co-working zones. These "core-and-flex" models allow companies to maintain a central corporate headquarters while providing adaptable spaces for project teams, remote employees, and fluctuating headcount. This enables firms to optimise their real estate footprint and support a more agile, hybrid workforce.      

Green Certification & Sustainability

Environmental, Social, and Governance (ESG) goals are now a key driver in leasing decisions. Occupiers are actively seeking properties with certifications like the BCA Green Mark Platinum. These buildings offer more than just a positive brand image: they deliver tangible benefits such as lower utility costs, enhanced employee wellness and productivity, and features that promote sustainable practices.      

Smart Building Systems

The next generation of business parks is integrating IoT-enabled smart systems to create more efficient, responsive, and user-centric environments. These technologies allow for real-time monitoring and optimisation of lighting, energy consumption, and air quality. For tenants, this translates into a healthier workplace, enhanced operational efficiency through predictive maintenance, and data-driven insights to support sustainability goals.      

Who Else is in the Neighbourhood?

The mix of tenants plays a big role. Having complementary businesses nearby can boost your brand visibility and create valuable networking opportunities. One-North, for instance, houses tech giants, venture capitalists, and medtech firms, making it a hub for innovation. Likewise, Changi Business Park is home to banks, data centres, and supply chain offices.

Conclusion: Lease Smarter, Not Just Cheaper

Renting a business park unit offers the perfect middle ground. It provides corporate functionality, long-term scalability, and a strong image without the price tag of downtown offices. Leasing in the right business park positions your firm for growth and gives your stakeholders confidence.

FAQ

Q: Can I buy a business park unit?

A: Most business park units are available for lease. However, there may be limited strata-titled units for sale, depending on the development. Ownership options under JTC may also be possible for eligible firms.

Q: What’s the typical lease term for business park space? 

A: Most business park units are available for lease. However, there may be limited strata-titled units for sale, depending on the development. Ownership options under JTC may also be possible for eligible firms.

Q: Are foreigners allowed to lease business park space in Singapore?
A: Yes, foreign-owned firms can lease Business Park-zoned space. There are no restrictions, but businesses must ensure their activities comply with zoning regulations.

Q: Is business park space suitable for client meetings?
A: Absolutely. Most parks are designed with corporate image in mind, often including reception areas, boardrooms, and shared conference facilities.

Q: Can we have full office use in a business park unit?
A: Office use is allowed as long as it remains ancillary to a primary permitted activity, such as R&D or tech operations. The standard requirement is that at least 60% of the space supports industrial functions.

Looking for ownership options instead? Read our companion guide on Industrial Spaces for Sale for Occupiers to compare investment strategies.4

Ready to evaluate your options? Whether you're setting up HQ or scaling a regional team, the Savills Commercial team is here to help you lease smarter.