Chapter 02 · 2017–2025 · All sold
Between 2017 and 2025 I bought and sold three industrial units at Midview City, all while my business needed the space. Every one sold at a profit. The last two sold at record prices in the development.
Most people think of property in Singapore and picture HDB flats and condos. Industrial units sit in a category most residential buyers ignore. The cooling measures that pushed up ABSD on second and third homes don't apply. The quantum is lower. And if you run a business, as I did with Vivre Activewear and later SME AI Office, you actually need the space.
That was the angle. These weren't pure investment plays. They pulled double duty: the business used them for storage and operations, I collected rent when it didn't need them full-time, and the real estate appreciated on top. The income was a bonus. The asset value was the point.
A property that earns its keep while it appreciates is a very different kind of asset. You're not just waiting for the market. You're using the space and getting paid to hold it.
Industrial also taught me about buying below market. Residential buyers are generally well informed. Industrial buyers are thinner on the ground, the information is less standardised, and motivated sellers exist. If you know what you're looking at, you can find pricing gaps that simply don't exist in HDB or prime condos.
I bought the first unit at market price, no special deal. I used it for two years for my own business, then rented it out for a year before selling. The $40k profit isn't the headline, and that's not the right way to look at it.
For three years I had business space I controlled. I paid no rent to a landlord, I got a year of rental income when I didn't need the space, and I walked away with $40k more than I paid. The real gain was running the business from an asset I owned rather than a lease I was burning through.
These two are the story. Market comps were trading around $880k. I bought both at $768k, roughly $110k below market each. That discount doesn't appear by accident. It takes knowing what you're looking at, moving when others won't, and not needing time to decide.
I used them for three years, with one rented out for a year in that time. Then the market ran. Both sold above $1,000,000, and both were record transactions in the development when they sold. That's what decided it.
My rule: I don't cash out because I'm tired of holding. I cash out when the price is a number history will look back on as a peak. A record price in the building is that signal. If it hadn't come, I'd still be holding, and I'd be fine with that.
Dual-purpose assets compound differently. When a property pays for itself through your own use or rent, you're not burning holding costs while you wait for appreciation. You're getting paid to wait.
Below-market entry is worth the effort. Units 02 and 03 were about $110k under market each. That $220k of combined discount became part of the final profit. Entry price matters more than people admit.
Know your exit trigger before you buy. "Sell when I need the money" isn't a plan. Mine was simple: sell when the price is a record. When both units hit it, I acted.
The takeaway
Industrial worked because it served a real business purpose while it appreciated. The best property investments pay you to hold them. When the market finally offers a record price, you'll know. That's when you sell.
My own account of what I did with my own money. Not financial or property advice, and I don't take commission on anyone's purchase. HDB rules change: check the current ones with HDB before you decide anything.