A TECH unicorn with about 100 staff will take up space at a new co-working office in Singapore's Central Business District area in early 2017. The Working Capitol said on Monday it would offer about 55,000 square feet across 11 floors at 140 Robinson Road to businesses across various industries. It said initial members of The Working Capitol on Robinson Road include a fintech (financial technology) lab...
Office / Retail Space
Retail space is filling up at Bukit Panjang’s upcoming shopping centre called Hillion Mall, announced Sim Lian Group on Friday (Nov 25). It said in a press release that 90 percent of the approximately 174,730 sq ft of lettable area has been taken up by about 100 retail as well as food and beverage (F&B) tenants. There are five anchor tenants - NTUC FairPrice, PCF Sparkletots Preschool, Amore...
THE Singapore real estate market has been volatile. Amid the cyclical nature of the market, we looked at data from 2000 to find the best years to buy an office building in Singapore and hold for five years. We found that these periods have generally coincided with periods of high vacancy rates. In 2001 to 2004 prime office rents fell 42 per cent, before rising 270 per cent in 2005 to 2007, then...
Unfazed by the sluggish local retail conditions, Toys “R” Us is expanding its foothold in Singapore, with plans to unveil two more stores in the coming months. One will be slated for opening before Christmas and another by early-2017, country manager Raymond Burt told Channel NewsAsia on Wednesday (Nov 2) at the launch of its newly-refurbished flagship store at VivoCity. That will bring the number...
Department store John Little will close its last remaining outlet at Plaza Singapura by the end of December this year, the Robinsons Group announced in a statement on Saturday (Nov 5). The decision was made after evaluating the relevancy and sustainability of its brick-and-mortar business, said the Robinsons Group, adding that John Little will instead evolve as a brand into a pop-up format, which it...
SHOPPING-MALL owner Frasers Centrepoint Trust (FCT) has inked deals to buy all 10 strata-titled retail units at the Yishun 10 cinema complex from Bonvests Holdings for S$37.75 million, the trust said in a Singapore Exchange (SGX) filing on Friday evening. The trust manager's chief executive officer, Chew Tuan Chiong, said in a statement Yishun 10 was next to FCT's Northpoint shopping centre and...
BlackRock Inc, the world's largest asset manager, is exploring a sale of its second office tower in Singapore's central business district, people with knowledge of the matter said. BlackRock has started reaching out to potential buyers to gauge their interest in Asia Square Tower 2, according to the people, who asked not to be identified as the information is private. The development could fetch about...
A PRIME commercial-zoned piece of vacant land - where the former Queenstown cinema and bowling centre once stood - has been sold for S$78 million. The price for the site, which has a balance lease term of 57 years, is understood to work out to about S$756 per square foot of potential gross floor area. Located a stone's throw from Queenstown MRT Station, the site is at the corner of Commonwealth Avenue...
GUOCOLAND, controlled by Malaysian tycoon Quek Leng Chan, recently completed Guoco Tower - the office component of its integrated mixed-development project, Tanjong Pagar Centre, on a 99-year leasehold site above Tanjong Pagar MRT Station. The mainboard-listed property group has announced that 80 per cent of the 890,000 sq ft net lettable area of office space has been committed, that is either leased or...
DATA released by the Urban Redevelopment Authority (URA) shows that its retail property rental index fell 1.5 per cent in the third quarter of this year over the preceding quarter - a smaller decline compared with the 3.9 per cent quarter-on-quarter drop in Q2 2016. URA's retail property price index eased 0.6 per cent q-o-q in Q3 2016, after sliding 3.1 per cent in Q2 2016. The islandwide vacancy...