Co-working giant WeWork has announced the official launch of three new offices in Suntec City Tower 5, City House and 8 Cross Street in Singapore, bringing its footprint here to over nine locations with 4,000 members. This comes amid the US company's aggressive expansion in South-east Asia. New locations are slated to open in Bangkok, Ho Chi Minh City, Jakarta, Kuala Lumpur and Manila by the end of the...
When it comes to renting an office in downtown Singapore, the tables have turned. Landlords now have the upper hand in rental negotiations, with leasing rates in the city-state's prime business districts rising at the steepest pace in more than four years. And with both demand accelerating and supply dwindling, rents are forecast to remain firm until at least 2022, when new supply is expected to come...
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...
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...
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...
Singapore’s office leasing market is tracking expectations with rents climbing for the sixth consecutive quarter in 3Q18, JLL’s research show. Specifically, the gross effective rents of Grade A office space in the CBD edged up 2.3 per cent quarter-on-quarter (q-o-q) in 3Q18 to average SGD 9.93 per sq ft per month. Rent growth in 3Q18 was broad-based across all submarkets. Mr Chris Archibold, Head of...
Lendlease is planning its own flexible workplace brand within its upcoming Paya Lebar Quarter mixed-use development, according to The Business Times. That would make the Australian firm the latest among developers to run their own co-working platforms here amid an increasingly crowded landscape. "To cater to the demand for high quality flexible workspace from corporate occupiers, we are exploring a...
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