Mainboard listed Overseas Union Enterprise or OUE says its subsidiary, Clifford Development, has obtained pre-committed leases totaling some 88,000 square feet for its latest development 50 Collyer Quay. This is equivalent to 22 per cent of the net lettable area of the project. The initial lineup of tenants include global business consulting firm Bain & Company and international law firm Allen &...
Singapore Office
Two foreign banks, ANZ and BNP Paribas, have become the latest to sign up for space at Ocean Financial Centre at Raffles Place. This raises the pre-commitment levels at the building to over 60 per cent. Analysts said demand and rentals for prime office space is expected rise in the short term as companies in the region continue to expand their businesses. Putting the final touches at the topping-out...
Keppel Land says two foreign banks, Australia and New Zealand Banking Group, and BNP Paribas Singapore, plan to lease prime office space at its Ocean Financial Centre. Keppel Corporation Chairman Choo Chiau Beng announced this at the topping out of the Centre Wednesday. He says ANZ plans to lease about 209 thousand square feet of office space, while BNP Paribas Singapore plans to lease some 58 thousand...
Rental growth for transitional offices located in the city's fringe is expected to slow in the months to come but such offices can maintain their yields, if they are located in areas around Scotts Road and Mohammed Sultan. Office rents in the Central Business District have slipped some 60 per cent from their peak in 2008 and that has prompted some companies to move back into the city. Analysts said the...
Rentals for international Grade A office space in Singapore's financial district may climb at least 25 per cent in the next two years. Analysts said Grade A office rents have already hit bottom, and will likely pick up from the second half of this year. Singapore's Marina Bay Financial Centre is one of prime areas in the city offering a new generation of office buildings. They are less than 10 years old...
Office rentals for international Grade A office space in Singapore's prime financial district look set to climb higher by at least 25 per cent over the next two years. This was the view of property analysts who believe that office property rents have already reached bottom, and will likely see a strong pick-up from the second half of this year. "International Grade A" refers to a new generation of office...
Singapore's office property market is picking up, according to brokerage firm Nomura. It noted that office rentals in Singapore are bottoming out amid stronger-than-expected demand, prompting tenants to commit sooner than expected. Nomura said a reduction in occupancy costs and the desire to secure contiguous expansion or better quality space has prompted pre-commitments. Given such stronger demand -...
CapitaCommercial Trust plans to spend about S$92 million for asset enhancement work on its existing Grade A office building at Six Battery Road. Based on the property's valuation as at end December 2009, the cost is equivalent to approximately eight per cent. CCT says Six Battery Road will be physically, technically and functionally enhanced to meet the modern-day needs of office tenants and improve the...
The upswing in office leasing deals continues, helping to absorb more of the space in new office projects being built. Much of the latest leasing buzz has focused on Ocean Financial Centre (OFC) and 50 Collyer Quay, which are completing next year, as well as 71 Robinson Road, which was completed last year. Click here to find out more! Law firm Drew & Napier is believed to have inked a lease for...
Despite the recession, the newly-opened Straits Trading Building has achieved a 95-per-cent occupancy rate after one-and-a-half years of marketing efforts. The owner, the Straits Trading Company, is optimistic that the building will be fully-occupied by the middle of this year. Mr Eric Teng, CEO for property at the Mainboard-listed firm said that last week, the firm sealed a deal to lease an office unit...