Office Space

ARA buys Robinson Centre via private real estate fund

The Robinson Centre building has been sold to a private fund managed by ARA Asset Management Limited, according to Sakal Real Estate Partners, which managed the transaction. The 20-storey office building at 61 Robinson Road is located in the Central Business District and has a net leasable area of over 130,000 sq ft. When contacted, Sakal said both buyer and seller agreed not to disclose the...

Colliers extends deadline for The Arcade’s S$780m collective sale, revises land rate

Colliers International has extended the tender submission date for the en bloc sale of The Arcade in Raffles Place by two months till March 5, 2020, at 3pm. This is because developers had asked for more time to assess the site, Colliers said in a press statement on Monday. The original deadline was Jan 8, 2020. Meanwhile, Colliers has also increased the land rate for the site after receiving the...

Commercial, residential buildings to find new life as hotels

Developers continue to jump on the hotel-conversion bandwagon, with Fragrance Group for its flagship office building in Alexandra Road and Lian Beng for Wilkie Edge among the latest to have received nods from the Urban Redevelopment Authority (URA). The trend is being fuelled by the rise in hotel land values and a perceived shortage of hotel room supply on the island; this follows URA generally having...

Dyson to move global headquarters to St James Power Station in Singapore

Dyson will be moving its global headquarters to St James Power Station in Singapore, the British technology firm said on Thursday (Nov 28). "The historic St James Power Station will be a most inspiring backdrop for Dyson’s people," Dyson's chief executive Jim Rowan told CNA. "It will be a hive for our research and development endeavours, as we focus on great technology breakthroughs." This...

CapitaLand’s Bridge+ to set up fintech hub at 79 Robinson Road

Bridge+, an extension of CapitaLand's business space portfolio, on Wednesday said it will set up a fintech hub that will play host to Singapore's fintech community, with the group's upcoming development at 79 Robinson Road in the Republic's central business district (CBD). Slated to open in the third quarter next year, Bridge+ 79 Robinson Road will "facilitate collaborations through knowledge sharing...

Singapore office prices fall 3.9% q-o-q in Q3; vacancy rate eases to 10.6%: URA

Prices of office space in Singapore's central region decreased by 3.9 per cent in the third quarter, compared with the 0.9 per cent increase in the previous quarter, according to the latest data from the Urban Redevelopment Authority (URA). URA's rental index of office space in the central region declined by 0.6 per cent in Q3, versus a 1.3 per cent increase in the prior quarter. As at the end of Q3...

Flexible offices: the way of the future

Imagine you've found the perfect hire, only to learn she turned down the job because her daily commute would just be too long. Or you're looking to expand your premises, but since there's no space left in the same building, you’re forced to consider a pricey relocation. These are familiar pain points for Singapore's corporates, especially amid today's talent shortage and the tight office supply in the...

WeWork to open two new locations in Singapore amid cost-cutting drive

Office-sharing startup WeWork on Thursday (Oct 10) said it will open two new locations in Singapore this year, even as its seeks a US$1 billion lifeline from its biggest-backer Softbank Group to progress a major restructuring. The New York-based startup, which had to abandon an initial public offering last week because of investor concerns about how it was valued and its business model, will open new...

Coworking here to stay despite WeWork concerns

The coworking business is here to stay notwithstanding the recent woes of coworking giant WeWork that has forced it to pull the plug on an initial public offering, according to separate reports from Jefferies and DBS. A Credit Suisse report earlier this week said poor sentiment on the company could further damp demand for coworking spaces amid slowing gross domestic product growth, hurting office Reits...

WeWork concerns seeping into Singapore office Reits: Credit Suisse

Concerns about co-working giant WeWork may amplify the negative impact of a weakening economy on Singapore's commercial real estate investment trusts (Reits), according to Credit Suisse Group. Poor sentiment on the company could further damp demand for co-working spaces amid slowing gross domestic product growth, hurting office Reits, analysts led by Nicholas Teh wrote in a report. "Office Reits have...

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