Campfire Collaborative Spaces from Hong Kong is muscling in on Singapore's shared office space, with the startup announcing it has leased all 16 floors at 139 Cecil Street. The site is currently an 11-storey building undergoing major renovation to add five more floors, which Campfire said includes a roof terrace with an "industry-first sky pool, rooftop bar, outdoor dining area and cabanas" for...
The Urban Redevelopment Authority's (URA) rental index of retail space in the central region of Singapore slipped 1.2 per cent in the third quarter of 2018 over the previous three months. This follows a 1.1 per cent quarter-on-quarter decline in the previous quarter. However, URA's price index of retail space in the central region rose 0.3 per cent quarter on quarter in Q3 after easing 1.3 per cent...
Office rents in the central region of Singapore rose 2.5 per cent in the third quarter of this year over the previous three months, property data from the Urban Redevelopment Authority (URA) on Friday showed. This is a quicker pace of gain than the 1.6 per cent increase posted in the previous quarter. Year on year, the rental index is up 9.6 per cent. The latest reading marks the fifth consecutive...
M+S Pte Ltd, the joint-venture between Malaysia's Khazanah Nasional and Singapore's Temasek Holdlings, has appointed JLL to advise it on the sale of the office, hotel and retail components of the Duo project along Beach Road, said sources. They told The Business Times that the combined asking price for the above components is about S$2 billion. The joint-venture company has sold almost all the 660...
Co-working outfit JustCo will move into the entire second floor of Fraser Property's China Square Central complex, once the building's current asset enhancement initiative is completed. JustCo aims to open its latest space in the fourth quarter of 2019, adding to its current portfolio of 13 centres in Singapore. Its Marina Square and MacDonald House offices were opened earlier this year. "Demand...
Plans are being drawn up to transform Singapore's main shopping belt, Orchard Road, into something more than rows of boutiques and malls, Senior Minister of State for Trade and Industry Chee Hong Tat said on Wednesday (Oct 17). These plans could include turning Orchard Road into an innovation district, where start-ups and social entrepreneurs use the precinct as a "living lab" to test out ideas for new...
A rare strata portfolio comprising 59 freehold shop units in Ming Arcade is available for sale via an Expression of Interest (EOI) exercise, CBRE the sole marketing agent announced on Monday. The freehold Ming Arcade is a seven-storey strata-titled commercial building with three basement storeys. Completed in the 1980s, it has a total of 88 strata shop units. Offered for sale are 59 strata shop units...
CapitaLand today initiated its ‘office of the future’ strategy aimed at engendering a culture of innovation, promoting talent attraction and retention and optimising cost efficiency for tenants of its office properties. While coworking spaces currently aim to fulfil these objectives, they are typically standalone spaces targeted at a specific pool of tenants. CapitaLand’s ‘office of the future’...
Three freehold office floors of The Octagon at 105 Cecil Street have been put up for bulk sale via tender, said marketing agent Cushman & Wakefield on Monday. The tender exercise for the 14th, 15th and 17th floors of the 25-storey office building will close on Nov 1, 2018. Total strata area of the three floors is about 18,567 square feet, and each floor has a plate size of about 6,189 sq ft. The...
The redeveloped Funan mall will open two months ahead of schedule in the second quarter of 2019, instead of the projected third quarter, thanks to smart technologies used in its construction. This was announced on Friday (Sep 28) during its topping out ceremony, which marked the integrated development's structural completion. Its developer CapitaLand adopted new construction methods, such as virtual...
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