An estimated record 1.19 million square feet of new office space was added in the third quarter of this year, according to the latest Singapore Property Market Report by consultant DTZ. This increased the overall office stock by two per cent. The new supply in the third quarter was more than last year's total new supply of 1.14 million square feet. Newly completed offices included Mapletree Anson, 2HR,...
Office Space
Mapletree Investments said it has pre-leased 40 per cent of the office space at its Mapletree Business City. Mapletree said it's talking to more potential clients who may take up another 15 per cent of space before the project is completed mid next year. Topping out the Mapletree Business City, the company already has another reason to celebrate. Fourth-tenths of some 1.7 million square feet of office...
Singapore is no longer one of the top 20 most expensive office locations globally. A survey by property consultancy Colliers International showed that in June, Singapore's office space was the 26th most expensive in the world. That is a steep fall from December last year, when Singapore was number 6. Colliers said this is because Singapore's office property market was among the most severely affected by...
Office rents in Singapore fell for the fourth straight quarter with prime rentals averaging at S$7.50 per square foot a month in the third quarter of 2009. Real estate consultancy firm CB Richard Ellis said this is a 12.8 per cent on-quarter drop – an improvement over the 18 per cent decrease a quarter ago. Grade A office rents fell about 13 per cent on-quarter to S$8.80 per square foot per month....
Merchant Square, an office building located at the fringe of the Central Business District (CBD), is up for sale by Expression of Interest. The building, completed in 1996, comprises a four-storey office tower and two blocks of shophouses. It is situated close to the junction of Merchant Road and Clemenceau Avenue, with a tenure of 99 years leasehold from 1993. CB Richard Ellis, which is the sole...
The first phase of Marina Bay Financial Centre is now 67 per cent pre-leased ahead of its completion in the second quarter of next year. This phase includes Tower Two and the fully pre-leased Tower One. The latest tenant at the location is Servcorp, a serviced and virtual office provider. In a statement, Raffles Quay Asset management said Servcorp's seven-year lease will start next year. Servcorp will...
The slide in office rental rates across the region has slowed, and analysts said this is a good sign the market has stabilised. A year ago, office space rental in Singapore's central business district could come up to as much as S$19 per square foot a month. Today, that rate has fallen by almost half. Singapore, which is home to Asian headquarters of a number of foreign companies, has seen rents fall...
Office rents in Singapore fell 26.2 per cent in the second quarter, according to latest figures from real estate consultancy firm Colliers International. This was the steepest decline quarter-on-quarter among Asia-Pacific cities. Singapore is the fourth most expensive office location after Tokyo, Hong Kong and Ho Chi Minh City for Grade A offices – one spot down from the first quarter this...
Address: 865 Mountbatten Road Singapore 437844 Location: In the East Coast vicinity, in the prime residential estate of Katong. Easily accessible via ECP, about 10 minutes drive to city via ECP and public transport Description: 7-storey building with 4 levels of retail space Neat and clean office lift lobby Upgraded common corridors Please contact leasing officer at [email protected] or +65 9273 4834...
Address: 1 Magazine Road Singapore 059567 Location: Located by the historic Singapore River and near the financial hub of Raffles Place and Shenton Way. Easily accessible via CTE Nearest MRT Station: Clarke Quay / Chinatown MRT Station Description: Central Mall is a 7-storey office building with ground floor retail units. Within the development are 2 and 3 storey conservation warehouses for retail,...