Subletting of excess space seems to be emerging as a viable option for tenants to ease their rental burden, as they look to navigate a slowing economy. With the latest spate of corporate downsizing by financial institutions, some companies may be giving up office space before their leases have expired. For these firms, they may - with the landlord's approval - look to sublet the space to another...
Office Sublet
Property consultancy Colliers said the amount of shadow space in Singapore has increased by almost half in a short span of two months. In a research report, the firm said the shadow space increased by 48 per cent from an estimated 250,000 square feet in March this year to 370,000 square feet in May. The amount of shadow space or excess office space that companies have leased but are looking to sublet is...