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Several large life sciences firms have also established their own manufacturing facilities in Singapore, with Sanofi announcing plans to make a new vaccine production centre in future.
FREMONT, CA : Singapore is one of the top five cities in the Asia Pacific for life science market competition. According to CBRE's most recent research, which examined trends, demands, corporate real estate strategy, and investment prospects in the region's key life sciences centres, this is the case.
According to Catherine, Director of Research for CBRE Southeast Asia, Singapore has maintained its competitive position as a biomedical hub-underpinned by its skilled talent pool, logistical network, government funding, as well as existing physical infrastructure, to attract life sciences companies and foster a supportive ecosystem.
Singapore is home to numerous large life sciences companies. In May 2021, the pharmaceutical business BioNTech announced that Lion City would become the regional headquarters for Southeast Asia. Sanofi announced intentions to build a new vaccine production facility in April, joining several other significant life sciences companies that have already established their manufacturing sites in Singapore.
Despite the limited number of business park sites available for new development, investors are very interested in Singapore's high-end industrial buildings with biomedical tenants.
In no particular order, Shanghai, Tokyo, Beijing, Melbourne, Sydney, Seoul, Hong Kong, Hyderabad, and Bangalore round out the top ten nations.