Prices of industrial properties were up 7.3 per cent in the first quarter of 2012, compared with 3.8% in the previous quarter. Within this segment, property prices of multiple-user warehouse jumped 8.8 per cent, while property prices of multiple-user factory increased by 7.2 per cent. Rentals of multiple-user factory space rose by 1.3 per cent in the first quarter, higher than the 0.6 per cent in the...
Singapore Office
Vacancy rates of Grade A office buildings in the central business district (CBD) declined at a slower pace to 6.5 per cent in the first quarter this year. This compared to the 6.8 per cent fall in the fourth quarter of last year. According to property consultancy Savills Research in its latest report on the office sector on Friday, the leasing market has been dominated by enquires from small- to...
The remaking of Paya Lebar Central is taking shape with the ground breaking of a new 13-storey commercial project, on Tuesday. Paya Lebar Central has been earmarked by the government for development as a commercial hub, under its 2008 Master Plan. At the ground breaking ceremony of Paya Lebar Square, its developer said 75 per cent of the office space has been committed. The S$1 billion development will...
Hong Kong and Singapore commercial property rents and prices will drop by more than 15 per cent this year as financial services companies keep a lid on growth or shrink, according to Jones Lang LaSalle. Hong Kong rents will drop by 15 per cent this year and prices by 16 per cent, while Singapore rents will fall 11 per cent and values 20 per cent, Mr Alastair Hughes, Asia-Pacific chief executive officer of...
Oxley Tower set to rise from the heart of Robinson Road, Singapore’s Central Business District (CBD). The flexibility of the modular office units suit small and medium businesses perfectly as business owned may choose an office layout that best suits their needs. Coupled with a great balance of work, play and living facilities and amenities, it is the right choice for the future of any business. The...
EON Shenton rises at the coveted site of 70 Shenton Way, illuminating the Tanjong Pagar waterfront with its majestic grandeur. Here in the Central Business District, each and every angle gives rise to international recognition and promises impressive city and sea views that extend towards the waterfront bungalows of Sentosa. Interweaving both residential and commercial spaces seamlessly, it is the epitome...
A total of 66 strata-titled office units in Burlington Square have been put up for sale by expression of interest by property consultant, Colliers International. In a statement, Colliers said buyers are to submit their offer by noon on April 18, 2012. Burlington Square is a mixed development located at Bencoolen Street and it sits on a 99-year leasehold site with effect from June 1996. Colliers said the...
Shenton House, located in the heart of the central business district in Singapore, has been put up for collective sale. In a statement, its sole marketing agent DTZ said the site which is situated at Shenton Way could fetch S$530 million. This translates to S$1,720 psf per plot ratio based on the allowable approved gross floor area of nearly 427,500 square feet. The leasehold property sits on a land...
Three new tenants are taking up space at the Tower 3 of Marina Bay Financial Centre (MBFC). According to a news release, the three are mining group Rio Tinto, Fitness First and The Regus Group. They will collectively occupy a total of 75,000 square feet of the 46-storey tower. Mining giant Rio Tinto will occupy one-and-a-half floors totalling 46,000 square feet when it moves its Singapore staff to MBFC...
Over the next five years, the cost of occupying a workstation in Singapore's business district will be among the slowest to grow globally, according to property services firm, DTZ. Driven by downward pressure from negative rental growth in 2012 and 2013, Singapore joins Bangkok and Kuala Lumpur as locations that will see the lowest growth in office occupancy costs. Factors that contribute to this...