FIVE office floors in Suntec Tower One are changing hands for a total sum of S$129.3 million, which works out to S$2,400 per square foot on strata area of 53,863 sq ft, based on caveats data. The five floors - Levels 24, 25, 34, 35 and 36 - are being sold by BASF South East Asia, a part of German chemicals giant BASF, which currently occupies the space. The floors are being bought by companies which...
Singapore Office
THE Work Project - a Hong Kong-based co-working space operator - is the official co-working space partner of Downtown Gallery in OUE Downtown, OUE's upcoming mall located at 6 Shenton Way, The Business Times has learnt. It will fill the entire fourth floor of Downtown Gallery - that is, 20,000 square feet of space - and is set to deliver a new concept here of workspaces designed for the future...
Homegrown space provider JustGroup is rapidly scaling up its presence in the segment of co-working spaces, with plans to open two new shared offices in the heart of Singapore's Central Business District (CBD) next April. Its co-working brand JustCo currently offers 50,000 square feet of space at two locations - 120 Robinson Road and 6 Raffles Quay. With a combined floor area of more than 100,000 square...
PWC Building at 8 Cross Street could be in the early stages of a potential sale. BT understands that insurer Manulife has been selected to do exclusive due diligence for the purchase of the 28-storey building, which has a net lettable area (NLA) of 355,704 sq ft. PWC Building, which is owned by DBS, is on a site with a balance lease term of 78.5 years. The price is expected to be more than S$700...
SMALL and medium enterprises (SMEs) in Singapore will soon find it easier to break into China. International Enterprise Singapore (IE Singapore), CapitaLand and UrWork signed a memorandum of understanding (MOU) on Friday to facilitate this amid the growing trend of the sharing economy. This tripartite agreement, the first-of-its-kind among a trade agency, Asia's largest real estate company...
THE Singapore real estate market has been volatile. Amid the cyclical nature of the market, we looked at data from 2000 to find the best years to buy an office building in Singapore and hold for five years. We found that these periods have generally coincided with periods of high vacancy rates. In 2001 to 2004 prime office rents fell 42 per cent, before rising 270 per cent in 2005 to 2007, then...
BlackRock Inc, the world's largest asset manager, is exploring a sale of its second office tower in Singapore's central business district, people with knowledge of the matter said. BlackRock has started reaching out to potential buyers to gauge their interest in Asia Square Tower 2, according to the people, who asked not to be identified as the information is private. The development could fetch about...
GUOCOLAND, controlled by Malaysian tycoon Quek Leng Chan, recently completed Guoco Tower - the office component of its integrated mixed-development project, Tanjong Pagar Centre, on a 99-year leasehold site above Tanjong Pagar MRT Station. The mainboard-listed property group has announced that 80 per cent of the 890,000 sq ft net lettable area of office space has been committed, that is either leased or...
THE concept of the workplace is evolving. Historically, the quest was to design the perfect workplace focused on the infrastructure and physical design, taking into account technological transformations, with business cost efficiency being a major driver. This approach, however, often neglected the human aspects and how the talent interacted in and around the space and how productivity was...
ACCORDING to the Ministry of Trade and Industry, Singapore's economy grew 2.1 per cent year on year (y-o-y) in Q2 2016, the same rate of growth as the previous quarter. With looming concerns over the weaker global outlook and the impact of Britain's vote to leave the European Union, its economic growth forecast for 2016 also narrowed to 1 per cent to 2 per cent instead of the 1 per cent to 3 per cent...