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...
Singapore Office
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...
BlackRock real estate fund has acquired seven strata office units in Prudential Tower for about S$130 million from consortium Epic Land. Prudential Tower is a 30-storey Grade A commercial property in the heart of the Central Business District (CBD). John Saunders, head of Asia-Pacific for BlackRock Real Estate, said: “We are delighted to have acquired strata office floors of Prudential Tower in the...
The latest cooling measures will put a dampener on residential collective sales, which have been driving big-ticket property transactions since the second quarter of last year. Given the volume of money in the global system in search of investible assets, investor attention may turn towards the industrial and commercial sectors, where regulations on the purchase and sale of properties are not as onerous...
Another development cycle has passed and all the metrics show Singapore's office market is on another upward cycle. Historically, the Singapore Grade A office market runs on a two-to-three year range rental cycle. This is very much to do with the short-run economic cycles and the tight control by the Singapore government over office land sales. But there are signs that this trend could be a thing of the...
HSBC Singapore has announced that it will be relocating its head office to Marina Bay Financial Centre (MBFC) Tower 2 from its current premises at HSBC Building, This is to accommodate the company’s rapid growth plans. HSBC Singapore will occupy about 140,000 sq ft over the top floors of the 50-storey building. Fit-out work is expected to start in the second half of 2019, with target occupation by...