CapitaLand Commercial Trust, Singapore's biggest office landlord, is among suitors in talks about a potential acquisition of the Duo office and retail development in the city, people with knowledge of the matter said. The real estate investment trust has been negotiating the purchase of a 39-story office building called Duo Tower, along with the connected Duo Galleria mall, according to the people. The...
Singapore-based co-working space The Great Room (TGR) is opening at Raffles Hotel Singapore, its fourth location in the city state. This will be the first co-working space to be integrated in a six-star hotel, and will occupy 15,000 sq ft of space on level two of the restored Raffles Hotel Singapore, which will reopen in a few months. TGR offers flexible work space to multi-national corporations,...
A standalone building at 139 Cecil Street is up for sale again via an expression of interest exercise after an extensive revamp, said real estate firms CBRE and JLL in a statement on Tuesday. An 18-month additions and alterations exercise by the building's owner has increased the number of floors from 11 to 16, with a restaurant on the ground floor and a pool on the roof terrace. The building is...
WeWork is augmenting its presence in Singapore with its new location at 380 Jalan Besar, the US-based co-working space provider announced in a press statement on Tuesday. The new space, which opened its doors on March 1, is housed in ARC 380, a mixed-purpose commercial development, and marks the firm's first location with additional amenities such as a sky terrace with a swimming pool, a gym and an open...
A batch of six adjoining and refurbished strata offices at International Plaza in Tanjong Pagar are up for sale with a guide price of S$11.97 million. They are available on a sale and leaseback scheme with immediate annual gross rental yield of 4.2 per cent for at least five years, said marketing agent Colliers International in a press statement on Friday. The guide price works out to S$1,850 per...
Tightening vacancies have driven up Singapore prime office rents in 2018. This saw average CBD (central business district) Grade A office rent rising by 2.4 per cent to S$9.43 per square foot per month (psf pm) from Q3 to Q4 2018, bringing the full year rental growth to 14.9 per cent, Colliers International's data showed. This is the fastest annual growth since 2010, where rents rebounded by 22 per cent...
Rents of office space in the central region of Singapore rose by 0.5 per cent in the fourth quarter of 2018 over the previous three months - a slower pace of gain compared with the 2.5 per cent rise in the third quarter, figures from the Urban Redevelopment Authority (URA) showed on Friday. For the whole of 2018, the rental index rose 7.4 per cent, compared with the increase of 0.4 per cent in...
Google is planning to expand in Singapore, going by market talk that it plans to boost its real estate footprint on the island. The tech giant is understood to be in advanced talks to lease close to 400,000 sq ft at Alexandra Technopark, which is next to Mapletree Business City II, where Google occupies about 500,000 sq ft. Market watchers note that Mapletree Business City II, which has a total net...
Singapore's CapitaLand is buying the owner of a clutch of real estate investment trusts from state investor Temasek in a deal valued at S$11 billion that the developer said will create the largest diversified property group in Asia. CapitaLand will buy the holding companies of the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate Investment Trust, Ascendas India Trust and...
Global flexible workspace provider IWG has leased over 20,600 sq ft of space at Capitol Singapore, and will launch its premium co-working space brand No18 there. The co-working space will be the brand’s flagship facility in Asia, and its first location in the region, when it commences operations in September this year. The new space in Singapore will be on the second floor of Capitol Singapore and...
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