Vacancies at Singapore's gleaming office towers are nearing their highest level in almost a decade, with construction of the city-state's tallest building - GuocoLand Ltd's 64-floor block in the financial district - wrapping up just as the economy slows. Singapore's export-oriented economy has been hit by the slowdown in China and beyond, which has also put pressure on key sectors such as marine oil and...
Singapore Office
Vacancies at Singapore's gleaming office towers are nearing their highest level in almost a decade, with construction of the city-state's tallest building - GuocoLand Ltd's 64-floor block in the financial district - wrapping up just as the economy slows. Singapore's export-oriented economy has been hit by the slowdown in China and beyond, which has also put pressure on key sectors such as marine oil and...
DESPITE a generally quiet leasing market, there has been buzz about two big transactions involving major players. BT understands that The Bank of Tokyo-Mitsubishi UFJ (BTMU) is in advanced discussions to lease about 140,000 square feet of office space at Marina One. It will be moving out of Republic Plaza, where it is the anchor tenant and also one of the oldest in the building, occupying about 150,000...
Singapore's first co-working space equipped with child-minding facilities officially opened on Wednesday (Feb 17). Trehaus, which is located on Orchard Road, aims to give working parents a chance to meet like-minded people and grow their business network, while staying close to their children. Here, parents conduct their business at the Workspace and have the option of dropping their kids off at the...
Office buildings in the city fringes may be increasingly left vacant as tenants seek the opportunity to move into Grade A premises in the Central Business District (CBD) with rents weakening amid an onslaught of incoming supply. Pundits, such as Bloomberg columnist Andy Mukherjee, have blamed the weak office market here on a “fundamental miscalculation” on the part of some Singapore developers that...
An S$85.46 million transaction of office space at SBF Center, which is coming up near Tanjong Pagar MRT Station, has taken place, according to caveats information. The deal reflects a price of S$3,125 per square foot. The space transacted adds up to about 27,350 sq ft, covering all of levels 29 and 30 and eight smaller units on levels 27 and 28 of the 31-storey building. A breakdown of information...
Prices of office space in the Republic remained flat for the whole of 2015, dropping just 0.1 per cent from the year before, while rentals declined by 6.5 per cent. For the fourth quarter, prices of office space also decreased 0.1 per cent from the previous quarter. Rentals, however, fell 1.8 per cent in the fourth quarter, compared to the 2.9 per cent drop in the third quarter of 2015. As of the...
About 10 per cent of the office space at Guoco Tower in the integrated Tanjong Pagar Centre project, and 60 per cent of retail space, have been committed some 6 months ahead of the project’s completion. Guocoland shared these figures on Wednesday at a topping-out ceremony, graced by Minister for National Development Lawrence Wong, for the S$3.2 billion flagship project. Guoco Tower has a total net...
CapitaLand Commercial Trust, Singapore's largest office real estate investment trust by value, is selling an office tower in the city-state's central business district, according to a person familiar with the transaction. CapitaLand Commercial is seeking to sell the 23-story One George Street building in the Raffles Place office district, the person said, asking not to be named as the information is...
Keppel Corporation Limited (Keppel Corporation) and Keppel Land Limited (Keppel Land) have today, through a subsidiary, entered into and completed a share purchase agreement with Mapletree Investments Pte Ltd (Mapletree) to acquire the remaining 30% interest in Harbourfront One Pte Ltd, which holds Keppel Bay Tower, for a consideration of approximately $180.9 million. This is part of a share swap...