18 Jul '13, 11pm

Singapore Office Rents Set to Surge in Late 2014: Southeast Asia via @BloombergNews

Singapore ’s office rents are expected to surge at the end of 2014 after extending a “modest” rebound that started in the second quarter, according to the biggest office trust in Asia outside Japan . The recovery will be led by companies seeking to set up regional headquarters in Singapore as they face the lowest supply in office space in two decades, Lynette Leong, chief executive officer of the manager for CapitaCommercial Trust, said in an interview in Singapore yesterday. Office rents in the business district rose in the past three months, the first gain since the fourth quarter of 2011, according to brokerage Colliers International. Singapore’s economy rose an annualized 15.2 percent last quarter from the previous three months, the fastest pace in more than two years, as services strengthened and manufacturing rebounded. “I don’t think we’ll go back to the peak we exp...

Full article: http://www.bloomberg.com/news/2013-07-18/singapore-office...

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