The recovery in Singapore's office property market gained a firmer footing in the second quarter of 2014, according to Colliers International's latest Research and Forecast Report. As growth momentum in the global and local economy picks up, brighter business prospects sparked more leasing demand for office developments, the report said. All Grade A office micro-markets breached the technical full...
Office / Retail Space
The upcoming CapitaGreen, a Grade A office building at Market Street, has secured leasing pre-commitments for 21 per cent of its net lettable area, joint developer CapitaCommercial Trust (CCT) said on Wednesday (July 2). About 150,800 sq ft of the 40-storey building’s total net lettable area of 700,000 sq ft has been committed, CCT said. The tenants include multinational firms such as commodities...
Equity Plaza, a 28-storey office tower in Singapore's central business district (CBD), has been sold for S$550 million to a consortium led by mainboard-listed GSH Corp. Real estate consultancy CBRE, which brokered the sale, said the price works out S$2,181 per square foot (psf) based on the building's current net lettable area of about 252,135 square feet. Keppel Land was the seller of the property....
The Republic has taken significant steps to remain competitive and companies that want to expand here will have sufficient space to grow, Deputy Prime Minister Teo Chee Hean said on Friday (June 20). Speaking at a luncheon that followed the annual general meeting of the Singapore International Chamber of Commerce, Mr Teo said the Government hopes to see more companies use Singapore as a base to seize...
Property consultants on Wednesday (June 18) said the office space market in Singapore could see a slight moderation in 2016, when some 4 million square feet of new supply come onstream. New office buildings are already taking a longer time to find tenants, they said, and this could push vacancy rates up in the Central Business District. According to analysts, the take-up rate in the Central Business...
Property analysts say existing shops at Holland Village will have to innovate and keep pace with changing demands when a new mixed-use development in the area opens in the future. Authorities announced on Tuesday that a commercial and residential plot at Holland Road is being released as part of the Holland Village Extension plan, as unveiled in the 2014 Master Plan. Mr Sam Thambi and his family have...
Supermarket group Sheng Siong intends to purchase a three-storey Housing and Development Board (HDB) commercial property in Tampines Central for S$65 million, it said in a statement on Monday (June 9). Sheng Siong said it has paid an option fee of S$650,000 for the 3,876 square metre leasehold property to the vendor, S-11 Wan Jin Investment. The property is near Tampines MRT station. The proposed...
More shopping malls in Singapore are going green in the global push to be more environmentally friendly. Such green features help to reap savings in energy and water usage. But in addition, some consultants say, they also help to create a safer shopping experience for consumers There are 32 eco-malls in Singapore according to the Building and Construction Authority, and some of the green features...
The office leasing market in the central business district has seen a greater diversification in tenants over the past 12 months. Property consultants say that as financial institutions continue to rationalise their real estate costs, others such as dotcom companies are expanding in prime city locations to attract "Gen Y" talent. Unlike those in other cities, tech companies in Singapore are located...
One Raffles Place shopping mall, formerly known as OUB Centre, will reopen on Thursday (May 29) after a major refurbishment exercise, its developer said in a statement on Wednesday. Located above Raffles Place MRT station, the mall has a net lettable area of approximately 98,500 square feet spread over six levels, and a committed occupancy of more than 90 per cent. The mall’s tenants will...